Vision Marine Technologies Completes US$16.3 Million At-the-Market Equity Offering Program

Vision Marine Technologies Inc. ( NASDAQ: VMAR ; TSXV: VMAR ) ("Vision Marine" or the "Company"), a marine technology and recreational boating company combining proprietary high-voltage electric propulsion technology with a retail, marina and service platform, today announced the successful completion of its at-the-market ("ATM") equity offering program, originally announced on January 23, 2026, pursuant to which the Company raised approximately US$16.3 million in aggregate gross proceeds. The ATM program is complete, and no additional common shares will be issued under the completed program. Following completion of the ATM program and final settlement, the Company has 6,530,460 common shares outstanding and approximately US$9.5 million of unrestricted consolidated cash. This unrestricted cash balance reflects cash available to the Company following completion of the ATM program and excludes restricted cash balances. In addition, Vision Marine expects to receive further cash from its previously announced pending Florida real estate transactions. If completed as currently contemplated, the transactions are expected to generate approximately US$13.1 million in aggregate gross sale proceeds and approximately US$5.58 million in estimated net equity proceeds to the Company before customary closing adjustments, taxes and transaction costs. Management believes the enhanced liquidity resulting from the completed ATM positions Vision Marine to continue executing its operational priorities, including inventory optimization, marina operations, electric boat product development, disciplined working capital management and strategic growth initiatives. The expect...