NetworkNewsBreaks – Vision Marine Technologies I
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Posted On: 12/14/2023 4:04:06 PM
NetworkNewsBreaks – Vision Marine Technologies Inc. (NASDAQ: VMAR) Enters into Private Placement of Convertible Preferred Shares, Warrants Totaling $3M
Vision Marine Technologies (NASDAQ: VMAR), a global leader and innovator within the performance electric recreational boating industry, has entered into definitive securities purchase agreements with several institutional and accredited investors for the sale of its preferred shares and warrants. According to the announcement, the company sold 3,000 nondividend-bearing Series A preferred shares, with a stated value of $1,000 per share; the company also sold warrants to purchase up to 2,857,142 of its common shares. Gross proceeds from the agreements resulted in $3 million before deducting standard fees and offering expenses. The agreement also included an option for investors to purchase up to an additional 3,000 Series A preferred shares and up to an additional 2,857,142 warrants during the six-month period following the execution of the purchase agreements. Joseph Gunnar & Co. LLC acted as exclusive placement agent for the offering, which should close on or about Dec. 15, 2023.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Vision Marine Technologies (NASDAQ: VMAR), a global leader and innovator within the performance electric recreational boating industry, has entered into definitive securities purchase agreements with several institutional and accredited investors for the sale of its preferred shares and warrants. According to the announcement, the company sold 3,000 nondividend-bearing Series A preferred shares, with a stated value of $1,000 per share; the company also sold warrants to purchase up to 2,857,142 of its common shares. Gross proceeds from the agreements resulted in $3 million before deducting standard fees and offering expenses. The agreement also included an option for investors to purchase up to an additional 3,000 Series A preferred shares and up to an additional 2,857,142 warrants during the six-month period following the execution of the purchase agreements. Joseph Gunnar & Co. LLC acted as exclusive placement agent for the offering, which should close on or about Dec. 15, 2023.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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