VMAR Vision Marine Technologies Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K/A

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of January 2025

 

Commission File No. 001-39730

 

VISION MARINE TECHNOLOGIES INC.

(Translation of registrant’s name into English)

 

730 Boulevard du Curé-Boivin

Boisbriand, Québec, J7G 2A7, Canada

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F

 

Form 20-F x     Form 40-F ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) ¨

 

 

 

General

 

On January 10, 2025, we issued a press release entitled “Vision Marine Technologies Secures Over US$11.7 Million Through At-the-Market Offering to Accelerate Growth and Strategic Acquisitions.” A copy there of is attached as Exhibit 99.1 to this report.

 

The information contained in this Report on Form 6-K is hereby incorporated by reference into our Registration Statement on Form F-3 (File No. 333-267893), Registration Statement on Form F-3 (File No. 333-274882) and Registration Statement on Form S-8 (File No. 333-264089).

 

Exhibit No.		Exhibit
99.1		Vision Marine Technologies Secures Over US$11.7 Million Through At-the-Market Offering to Accelerate Growth and Strategic Acquisitions

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	VISION MARINE TECHNOLOGIES INC.
Date: January 10, 2025	By:	/s/ Raffi Sossoyan
	Name:	Raffi Sossoyan
	Title:	Chief Financial Officer

 

 

 

Exhibit 99.1

 

Vision Marine Technologies Secures Over US$11.7 Million Through At-the-Market Offering to
Accelerate Growth and Strategic Acquisitions

 

BOISBRIAND, QC / ACCESSWIRE / January 10, 2025 / Vision Marine Technologies Inc. ("Vision Marine") (NASDAQ:VMAR), a leader in electric marine propulsion systems, is pleased to announce the successful completion of an at-the-market ("ATM") offering, raising gross proceeds of approximately US$11.75 million and net proceeds of approximately US$11.2 million. We intend to use the net proceeds from the offering for general corporate purposes, including strategic acquisitions aimed at expanding our market presence and enhancing our technological capabilities.

 

Following the completion of today's ATM executions, the total number of common shares issued and outstanding will be 5,522,029, and Vision Marine will have approximately US$7.1 million of cash available.

 

This capital infusion positions Vision Marine to capitalize on the growing demand for sustainable boating solutions. By leveraging these funds, we aim to accelerate our growth trajectory and solidify our leadership in the electric marine propulsion sector.

 

"The successful completion of this ATM offering underscores investor confidence in our vision and strategy," said Alexandre Mongeon, CEO of Vision Marine. "We are committed to utilizing these resources to drive innovation, pursue strategic acquisitions, and deliver exceptional value to our shareholders and customers."

 

The ATM offering was conducted under an ATM sales agreement entered into with Think Equity on October 17, 2024, allowing the company to sell shares at prevailing market prices.

 

Vision Marine remains dedicated to advancing sustainable boating technologies and is excited about the opportunities this capital raise will unlock for future growth and innovation.

 

About Vision Marine Technologies inc.

 

Vision Marine Technologies, Inc. (NASDAQ:VMAR) is transforming the marine industry with its revolutionary E-Motion™ outboard powertrain system. Combining advanced battery technology, high-efficiency motors, proprietary software, and innovative assembly techniques, Vision Marine is driving the shift to sustainable, electric-powered recreational boating.

 

Forward-Looking Statement

 

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially. For a detailed discussion of these risks, refer to Vision Marine's Annual Report on Form 20-F for the year ended August 31, 2024, and other periodic filings with the SEC. Vision Marine does not undertake any obligation to update or revise forward-looking statements other than as required by law.

 

Investor Relations and Company Contact

 

Bruce Nurse

303-919-2913

bn@v-mti.com

 

Website: visionmarinetechnologies.com

Twitter: @marine_vision

Facebook: @VisionMarineTechnologies

Instagram: @visionmarine.technologies

YouTube: @VisionMarineTechnologies

 

 

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