Vision Marine Technologies Signs Underwriting Agreement

TL;DR

Vision Marine inked a deal with ThinkEquity to sell stock directly to investors.

AI Summary

On August 15, 2025, Vision Marine Technologies Inc. entered into an underwriting agreement with ThinkEquity LLC. This agreement allows the company to issue and sell securities directly to investors.

Why It Matters

This agreement facilitates the direct sale of securities, potentially enabling Vision Marine Technologies to raise capital more efficiently for its operations.

Risk Assessment

Risk Level: medium — Underwriting agreements can involve risks related to market conditions and the company's ability to sell the securities at the desired price.

Key Players & Entities

• Vision Marine Technologies Inc. (company) — Registrant
• ThinkEquity LLC (company) — Underwriter
• August 15, 2025 (date) — Date of Agreement

FAQ

Key Financial Figures

• $2.00 — lieu thereof at an offering price of US$2.00 per common share. The investors partic
• $7,000,000 — cipated to generate gross proceeds of US$7,000,000 in connection with the Offering, before
• $0.001 — e price of each pre-funded warrant is CA$0.001. The pre-funded warrants are immediatel
• $2.50 — expected to have an exercise price of US$2.50 per common share. The Underwriter Warra

Filing Documents

• tm2523658d1_6k.htm (6-K) — 23KB
• tm2523658d1_ex99-1.htm (EX-99.1) — 7KB
• 0001104659-25-079321.txt ( ) — 31KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of August 2025 Commission File No. 001-39730 VISION MARINE TECHNOLOGIES INC. (Translation of registrant’s name into English) 730 Boulevard du Curé-Boivin Boisbriand, Québec, J7G 2A7, Canada (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F Form 20-F x Form 40-F ¨ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) ¨ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) ¨ Entry into a Material Definitive Agreement. On August 15, 2025, we entered into an underwriting agreement (the “Agreement”) with ThinkEquity LLC (the “Underwriter”), pursuant to which we agreed to issue and sell directly to investors, in a firm commitment offering (the “Offering”), an aggregate of 3,500,000 of our common shares, no par value, or pre-funded warrants in lieu thereof at an offering price of US$2.00 per common share. The investors participating in the Offering who would have received common shares that would have caused such investor’s beneficial are entitled to receive a pre-funded warrant in lieu of common shares. The Offering is expected to close on August 18, 2025 and is anticipated to generate gross proceeds of US$7,000,000 in connection with the Offering, before deducting Underwriter fees and other Offering expenses payable by the Company. We intend to use the net proceeds from this offering for general corporate purposes and working capital, including for inventory management and servicing our floorplan lines of credit, general and administrative expenses and prosecuting patent applications relating to our E-Motion™ electric powertrain technology. The 3,500,000 common shares to be offered in the Offering are expected to be sold pursuant to a registration statement (the “Registration Statement”) on Form F-1 (File No. 333-289547), which was initially filed with the United States Securities and Exchange Commission (the “Commission”) on August 12, 2025, and was declared effective by the Commission on August 15, 2025. The remaining exercise price of each pre-funded warrant is CA$0.001. The pre-funded warrants are immediately exercisable upon the payment of the outstanding exercise price and may be exercised at any time until all of the pre-funded warrants are exercised in full. The pre-funded warrants are exercisable on a standard cashless basis. No portion of a pre-funded warrant may be exercised if such exercise causes the holder thereof to have a beneficial ownership of our common shares that exceeds 4.99% (or at the election of investor, 9.99%) of our outstanding shares of common shares after such issuance. As part of its compensation for acting as Underwriter for the Offering, we expect to pay the Underwriter a cash fee of 6.5% of the aggregate gross proceeds and also agreed to grant the Underwriter an option expiring 45-days from the effective date of the Registration Statement to purchase up to an additional 525,000 of our common shares or pre-funded warrants to cover over-allotments representing 15% of the common shares and pre-funded warrants sold in the Offering. Additionally, we have agreed to issue to the Underwriter warrants to purchase 175,000 common shares (the “Underwriter Warrants”). The Underwriter Warrants are expected to have a term of five years commencing August 15, 2025, are exercisable commencing August 15, 2025, and are expected to have an exercise price of US$2.50 per common share. The Underwriter Warrants, and the common shares issuable upon exercise thereof, are expected be issued in reliance on the exemption from registration provided in Section 4(a)(2) under the Securities Act of 1933, as amended. As of the date of this Current Report on Form 6-K no common shares or warrants have been issued or sold; all issuances remain subject to the closing of the Offering. Consummation of the Offering and issuance of common shares or pre-funded warrants in lieu thereof remain subject to satisfaction of customary closing conditions set forth in the Agreement. This report on Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The foregoing descriptions of the Underwriter Warrants and Agreement are not complete and are qualified i

View Full Filing

View this 6-K filing on SEC EDGAR