Vision marine technologies inc. announces $3.0 million private placement of convertible preferred shares and warrants

Will not complete public offering, withdraws effectiveness of previously filed registration statement montreal, qc / accesswire / december 14, 2023 / vision marine technologies inc. (nasdaq:vmar) ("vision marine" or the "company"), a global leader and innovator within the performance electric recreational boating industry, announced today that it has entered into definitive securities purchase agreements with several institutional and accredited investors (the "investors") for the sale of its preferred shares and warrants. vision marine sold an aggregate of 3,000 shares of its non-dividend bearing series a preferred shares, with a stated value of us$1,000 per share, and warrants to purchase up to 2,857,142 of its common shares for aggregate gross proceeds of us$3.0 million, before deducting placement agent fees and other offering expenses.
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