11:11 AM EDT, 08/15/2025 (MT Newswires) -- Vision Marine Technologies ( VMAR ) said Friday it priced a public offering of 3.5 million shares, or pre-funded warrants in lieu, at $2 per share, inclusive of the warrant exercise price, for gross proceeds of $7 million.

Underwriters were given a 45-day option to buy up to an additional 525,000 shares and/or warrants to cover over-allotments, the company said, adding the offering is expected to close Monday.

Proceeds will be used for general corporate purposes, working capital, and potential acquisitions and investments, Vision Marine ( VMAR ) said.

The company's shares were falling 32% in recent trading.

Price: 1.92, Change: -0.93, Percent Change: -32.57