Vision Marine Completes $16.3 Million ATM Offering as Cash Reaches $9.5 Million
Updated
Updated · PR Newswire · Jul 14
Vision Marine Completes $16.3 Million ATM Offering as Cash Reaches $9.5 Million
1 articles · Updated · PR Newswire · Jul 14
Summary
$16.3 million in gross proceeds came from Vision Marine’s completed at-the-market equity program, which is now closed with no further share issuance under it.
6.38 million shares were sold under the ATM, leaving 6,530,460 common shares outstanding and about $9.5 million in unrestricted consolidated cash after final settlement.
Pending Florida real estate transactions could add about $5.58 million in net equity proceeds from $13.1 million in gross sale proceeds, though the deals still face customary closing conditions.
Vision Marine said the added liquidity will support inventory optimization, marina operations, working-capital discipline and commercialization of its E-Motion electric boat platform.