Vision Marine Technologies Announces $3.4M Offering Of 3.4M Shares Of Common Stock At A Price Of $1/Share
Portfolio Pulse from Benzinga Newsdesk
Vision Marine Technologies, Inc. (NASDAQ:VMAR) announced a $3.4 million offering of 3.4 million common shares at $1 per share. The proceeds will be used for working capital, patent applications, and potential acquisitions. The offering is expected to close on September 16, 2024.
September 13, 2024 | 6:16 pm
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Vision Marine Technologies is conducting a $3.4 million share offering, which may dilute existing shares but provides capital for growth and strategic initiatives.
The offering of 3.4 million shares at $1 each could lead to short-term stock price pressure due to dilution. However, the funds raised will support working capital and strategic growth, which could be beneficial in the long term. The market may react negatively in the short term due to the dilution effect.
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