Vision Marine Technologies (VMAR) IPO Opens 10% Higher

(Updated - November 24, 2020 10:55 AM EST)

Today's IPO for Vision Marine Technologies Inc. (NASDAQ: VMAR) opened for trading at $11.03 after pricing its initial public offering of 2,400,000 common shares at a price of US$10.00.

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

Vision Marine Technologies Inc., (NASDAQ: VMAR) strives to change and be a contributing factor in fighting the problem of waterway pollution by disrupting the boating industry with electric power, contributing to zero pollution, zero emission, wave less water, and a noiseless environment.

Our flagship outboard powertrain (E-Motion) is the first fully electric outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design and extensive control software. Our E-Motion technologies used in this powertrain system are designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance.

Vision continues to design, innovate, manufacture, and sell our handcrafted, high performance, environmentally friendly, electric recreational powerboats to recreational customers.

The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Simply stated, a smoother ride than a traditional ICE motorboat.

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