FAQ: Vision Marine Technologies Inc. (NASDAQ: VMAR) $7 Million Public Offering

What is the main topic of this announcement?

Vision Marine Technologies Inc. (NASDAQ: VMAR) has closed a public offering of 3,500,000 shares of common stock at $2.00 per share, raising $7,000,000 in gross proceeds.

How much money did Vision Marine raise from this offering?

The company raised $7,000,000 in gross proceeds before underwriting discounts and expenses.

What is the price per share in this public offering?

The shares were offered at $2.00 per share.

What are the potential additional shares that underwriters can purchase?

The underwriters have a 45-day option to purchase up to an additional 525,000 shares and/or pre-funded warrants.

How will Vision Marine use the proceeds from this offering?

The company plans to use the proceeds for general corporate purposes, working capital, and potential acquisitions or strategic investments in complementary businesses or technologies.

What type of company is Vision Marine Technologies?

Vision Marine is a pioneer innovative marine company that designs, manufactures, and sells high-performance electric powertrain systems and boats, and operates a multi-brand boat retail and service platform through its Nautical Ventures division.

Where can investors find more information about Vision Marine?

The latest news and updates relating to VMAR are available in the company’s newsroom at https://ibn.fm/VMAR.

What is TinyGems and its role in this announcement?

TinyGems is a specialized communications platform focused on innovative small-cap and mid-cap companies, and it is part of the InvestorBrandNetwork that provides distribution services for this type of corporate news.