VMAR - Vision Marine Technologies to raise capital via ~$7.3M stock offering

• Vision Marine Technologies ( NASDAQ: VMAR ) has entered into a definitive pact with certain investors for the issuance and sale of 1,741,901 of its shares for a price of $4.21/share, for expected gross proceeds of ~$7.3M.
• Concurrently with private placement, it will issue warrants to purchase up to 1,741,901 common shares.
• The warrants will have an exercise price of $4.21/share, will be exercisable six months following the issuance date and will expire three years following the issuance date.
• Net proceeds from the offering will be used for working capital and general corporate purposes.
• Offering is expected to close on January 24, 2023.

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