Vision Marine Technologies Inc. (VMAR) Prices 2.4M Share IPO at $10/Sh

Vision Marine Technologies Inc. (NASDAQ: VMAR) today announced the pricing of its initial public offering of 2,400,000 common shares at a price of US$10.00 per share for gross proceeds of US$24,000,000, before deducting underwriting discounts, commissions and offering expenses. Vision has granted the underwriter a 45-day option to purchase up to an additional 360,000 common shares at the initial public offering price, less discounts and commissions, to cover over-allotments.

The common shares will be listed on the Nasdaq Capital Market under the ticker symbol “VMAR” and are expected to begin trading on November 24, 2020. The Offering is expected to close November 27, 2020, subject to satisfaction of customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book running manager for the offering.

Vision intends to use the net proceeds from the offering for sales and marketing, build up of inventory for order fulfillment, research and development, development of rental operations, and general working capital.

You May Also Be Interested In

• YY Group Holding (YYGH) Closes $5M IPO
• Ibotta (IBTA) starts trading at $118, price IPO at $88
• Centuri (CTRI) Opens At $23.75, IPO At $21 (earlier)