03:34 PM EST, 12/19/2025 (MT Newswires) -- Vision Marine Technologies ( VMAR ) said Friday it has closed its previously announced public offering of 32 million units priced at $0.30 apiece for gross proceeds of $9.6 million.

Each unit consists of one common share and one-half of one warrant, the company said, adding that the one whole warrant entitles the holder to buy one share at $0.375 per share.

The company intends to use the offering proceeds for inventory management, servicing its floorplan lines of credit, among others, Vision Marine Technologies ( VMAR ) said.

Shares of the company were up over 11% in recent Friday trading.

Price: 0.27, Change: +0.03, Percent Change: +11.13