Vision Marine raises $11.7m in at-the-market offering

Vision Marine Technologies has concluded an at-the-market (ATM) offering, raising gross proceeds of approximately US$11.75m and net proceeds of about US$11.2m. The Canadian electric propulsion company plans to use the funds for general corporate purposes, including strategic acquisitions, to expand its market presence and develop its technological capabilities.

The ATM sales agreement, executed with Think Equity in October 2024 and announced on Friday (10 January 2025), allowed Vision Marine to issue shares at prevailing market prices. Following the completion of the offering, Vision Marine’s total issued and outstanding common shares now stand at 5,522,029. The company reports approximately US$7.1m in cash availability.

“This capital infusion positions Vision Marine to capitalise on the growing demand for sustainable boating solutions. By leveraging these funds, we aim to accelerate our growth trajectory and solidify our leadership in the electric marine propulsion sector,” says Alexandre Mongeon, CEO of Vision Marine.

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Mongeon adds: “The successful completion of this ATM offering underscores investor confidence in our vision and strategy. We are committed to utilising these resources to drive innovation, pursue strategic acquisitions, and deliver exceptional value to our shareholders and customers.”

In January 2024, Vision Marine secured an investment of ‘up to’ US$3m from the government of Québec, through Investissement Québec, in the form of a subscription to preferred shares.