MONTREAL, June 15, 2026 /PRNewswire/ -- Vision Marine Technologies Inc. (NASDAQ:VMAR, TSXV:VMAR) ("Vision Marine" or the "Company"), today announced that the Company's board of directors (the "Board") approved 1 for 10 reverse stock split of the Company's common shares. The reverse stock split is expected to become effective when the market opens on June 17, 2026 (the "Effective Date") and the Company's common shares will begin trading on a split-adjusted basis under the existing trading symbol "VMAR." The new CUSIP number for the Company's common shares following the reverse stock split will be 92840Q509.

logo

The Board of Directors of Vision Marine has approved a reverse stock split, which will reduce the issued and outstanding common shares from 7,270,497 common shares pre-split to approximately 727,050 common shares post-split, subject to adjustment resulting from the rounding of fractional shares to the nearest whole number.

The primary goal of the reverse stock split is to increase the per share market price of the Company's common shares in an effort to avoid non-compliance with the minimum $1.00 bid price per share requirement of Nasdaq Listing Rule 5550(a)(2). On June 4, 2026, the Board approved both the Effective Date of the reverse stock split as well as the ratio of the reverse stock split of 1 for 10.

As a result of the reverse stock split, every ten (10) common shares of the Company issued and outstanding will be automatically consolidated into one common share. Proportionate adjustments will be made to the exercise prices and the number of shares underlying the Company's outstanding equity awards, as applicable, as well as to the number of shares issuable under the Company's equity incentive plans. The common shares issued pursuant to the reverse stock split will remain fully paid and non-assessable. The reverse stock split will not decrease the number of authorized common shares (which shall remain limitless) or otherwise affect the par value of the common shares.

No fractional shares of our common shares will be issued in connection with the reverse stock split. Shareholders will be issued one whole common share in exchange for any fractional interest that such shareholder would have otherwise received as a result of the reverse stock split.

Odyssey Trust Company, the Company's transfer agent, is acting as the exchange agent for the reverse stock split. Shareholders holding their common shares electronically in book-entry form and shareholders who hold their shares through a bank, broker, or other nominee will not need to take any action. Shareholders owning common shares through a bank, broker, or other nominee will have their positions adjusted to reflect the reverse stock split. Given that the Company's shares are all book-based, the transfer agent has been instructed that there is no need to send out transfer letters.

About Vision Marine Technologies, Inc.

Vision Marine Technologies (NASDAQ:VMAR) is a marine technology and retail group delivering premium boating experiences across internal combustion and electric segments. Through its E-Motion™ high-voltage propulsion platform and its Nautical Ventures retail network, Vision Marine offers an integrated ecosystem spanning propulsion, retail, service, and on-water consumer engagement.

Forward Looking Statements

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include predictions, expectations, estimates, and other information that might be considered future events or trends, not relating to historical matters. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Vision Marine's Annual Report on Form 20-F, as amended, for the year ended August 31, 2025, and its periodic filings with the SEC provide a detailed discussion of these risks and uncertainties. Vision Marine does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Investor and Company Contact:

Bruce Nurse

Investor Relations

(309) 919-2913

bn@v-mti.com

Alexandre Mongeon

Chief Executive Officer

(450) 951-7009

am@v-mti.com

Raffi Sossoyan

Chief Financial Officer

(450) 951-7009

rs@v-mti.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/vision-marine-technologies-announces-reverse-stock-split-302800521.html

SOURCE Vision Marine Technologies, Inc

Vision Marine Technologies Announces Reverse Stock Split