Vision Marine, a Canadian manufacturer of electric powerboats and outboard powertrain systems, recently announced terms for its initial public offering (“IPO”). According to the update, the Quebec-based company plans to raise $15 million by offering 1.7 million shares at a price range of $8 to $10. Vision Marine Technologies would command a fully diluted market value of $65 million at the midpoint of the proposed range. Founded in 2012, Vision Marine booked $2 million in revenue for the 12 months ended February 29, 2020. The company plans to list on the Nasdaq under the symbol “VMAR.” ThinkEquity is the sole bookrunner on the deal.
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About Vision Marine Technologies
Vision Marine Technologies, formerly known as The Canadian Electric Boat Company, is committed to offering the highest quality electric boats on the market. To do this, the company leverages the best materials, techniques and the latest fiberglass technology to manufacture its hulls through entirely handmade construction. Vision Marine is the only electric boat manufacturer to use lithium and the only electric boat company to offer long-duration warranty and high-technology products. For more information about the company, visit www.VisionMarineTechnologies.com.
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