6-K
Vision Marine Technologies Inc. (VMAR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANTTO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF1934
For the month of February 2021
Commission File No. 001-39370
VISIONMARINE TECHNOLOGIES INC.
(Translation of registrant’s name into English)
730 Boulevard du Curé-Boivin
Boisbriand, Québec, J7G 2A7,Canada
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) ¨
SUBMITTED HEREWITH
Exhibits
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| VISION MARINE TECHNOLOGIES INC. | ||
|---|---|---|
| Date: February 4, 2021 | By: | /s/ Kulwant Sandher |
| Name: | Kulwant Sandher | |
| Title: | Chief Financial Officer |
Exhibit 99.1
VisionMarine Technologies Announces Pricing of Initial Public Offering of Common Shares
Montreal, Quebec, Nov. 23, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Vision Marine Technologies Inc. (Nasdaq: VMAR), the leading provider of electric technology in the design and manufacture of the first fully electric powertrain outboard motor (E-Motion) and electric power boats, today announced the pricing of its initial public offering of 2,400,000 common shares at a price of US$10.00 per share for gross proceeds of US$24,000,000, before deducting underwriting discounts, commissions and offering expenses. Vision has granted the underwriter a 45-day option to purchase up to an additional 360,000 common shares at the initial public offering price, less discounts and commissions, to cover over-allotments.
The common shares will be listed on the Nasdaq Capital Market under the ticker symbol “VMAR” and are expected to begin trading on November 24, 2020. The Offering is expected to close November 27, 2020, subject to satisfaction of customary closing conditions.
ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book running manager for the offering.
Vision intends to use the net proceeds from the offering for sales and marketing, build up of inventory for order fulfillment, research and development, development of rental operations, and general working capital.
A registration statement on Form F-1 (File No. 333-239777) relating to the shares was filed with the Securities and Exchange Commission (“SEC”) and became effective on November 23, 2020, and a related registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, or by email at [email protected]. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Vision Marine Technologies
Vision Marine Technologies Inc., (NASDAQ: VMAR) strives to change and be a contributing factor in fighting the problem of waterway pollution by disrupting the boating industry with electric power, contributing to zero pollution, zero emission, wave less water, and a noiseless environment.
Our flagship outboard powertrain (E-Motion) is the first fully electric outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design and extensive control software. Our E-Motion technologies used in this powertrain system are designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance.
Vision continues to design, innovate, manufacture, and sell our handcrafted, high performance, environmentally friendly, electric recreational powerboats to recreational customers.
The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Simply stated, a smoother ride than a traditional ICE motorboat.
Forward-Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements. For example, when Vision discusses the commencement of trading on Nasdaq, the closing of the offering, and the expected use of proceeds, it is using forward-looking statements. These forward-looking statements are based on Vision’s current expectations and are not guarantees of future performance. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are different to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Vision’s control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Vision’s filings with the SEC, including its registration statement on Form F-1, as amended from time to time, under the caption “Risk Factors.” Any forward-looking statement in this press release speaks only as of the date of this release. Vision undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
For further information, pleasecontact:
Bruce Nurse, Investor Relations
(800) 871-4274
Exhibit 99.2
VisionMarine Technologies Announces Closing of Initial Public Offering of Common Shares and Full Exercise of Underwriter ’s Over-AllotmentOption
Montreal, Quebec, Nov. 27, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire-- Vision Marine Technologies Inc. (Nasdaq: VMAR), the leading provider of electric technology in the design and manufacture of the first fully electric powertrain outboard motor (E-Motion) and electric power boats, today announced the closing of its initial public offering of 2,760,000 common shares at a price of US$10.00 per share, which includes 360,000 shares sold upon full exercise of the underwriter’s option to purchase additional common shares. The gross proceeds from the offering, including the exercise of the over-allotment option, were US$27,600,000, before deducting underwriting discounts, commissions and offering expenses.
ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering.
Vision intends to use the net proceeds from the offering for sales and marketing, build-up of inventory for order fulfillment, research and development, development of rental operations, and general working capital.
A registration statement on Form F-1 (File No. 333-239777) relating to the shares was filed with the Securities and Exchange Commission (“SEC”) and became effective on November 23, 2020, and a related registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, or by email at [email protected]. The final prospectus is available on the SEC’s website located at http://www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Vision Marine Technologies
Vision Marine Technologies Inc., (NASDAQ: VMAR) strives to change and be a contributing factor in fighting the problem of waterway pollution by disrupting the boating industry with electric power, contributing to zero pollution, zero emission, wave less water, and a noiseless environment.
Our flagship outboard powertrain (E-Motion) is the first fully electric outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design and extensive control software. Our E-Motion technologies used in this powertrain system are designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance.
Vision continues to design, innovate, manufacture, and sell our handcrafted, high performance, environmentally friendly, electric recreational powerboats to recreational customers.
The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Simply stated, a smoother ride than a traditional ICE motorboat.
Forward-Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements. For example, when Vision discusses the expected use of proceeds, it is using forward-looking statements. These forward-looking statements are based on Vision’s current expectations and are not guarantees of future performance. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are different to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Vision’s control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Vision’s filings with the SEC, including its registration statement on Form F-1, as amended from time to time, under the caption “Risk Factors.” Any forward-looking statement in this press release speaks only as of the date of this release. Vision undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
For further information, pleasecontact:
Bruce Nurse, Investor Relations
(800) 871-4274
Exhibit 99.3
VisionMarine Technologies to Ring the Virtual Nasdaq Closing Bell on December 2, 2020
Montreal, Quebec, Dec. 02, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Vision Marine Technologies, Inc., (Nasdaq: “VMAR”) (“Vision”or the “Company”), the leading provider of electric technology in the design and manufacture of the first fully electric powertrain outboard motor (E-Motion) and electric power boats, announced today the Co-Founder and Chief Executive Officer, Alex Mongeon, will ring the virtual Nasdaq Closing Bell to celebrate the Company’s listing to the Nasdaq Capital Markets.
“The listing of our Company on the Nasdaq represents a significant milestone in our growth,” stated Alex Mongeon, Co-Founder & CEO of Vision. “We believe this listing will increase our visibility in the marketplace, broaden and diversify our shareholder base, and ultimately enhance long-term shareholder value. I would like to thank our employees, directors, and partners for their hard work in making Vision a member of the Nasdaq exchange, an important step that will help facilitate the continued advancement of our pipeline.”
The event can be viewed live at livestream: https://livestream.com/accounts/27896496/events/9409759 starting at 3:30 pm E.T. and ending with the bell ringing at 4:00 pm E.T. on the Nasdaq Market site Tower.
About Vision Marine Technologies
Vision Marine Technologies, Inc., strives to change and be a contributing factor in fighting the problem of waterway pollution by disrupting the boating industry with electric power, contributing to zero pollution, zero emission, wave less water, and a noiseless environment.
Our flagship outboard powertrain (E-Motion) is the first fully electric outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design and extensive control software. Our E-Motion technologies used in this powertrain system are designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance.
Vision continues to design, innovate, manufacture, and sell our handcrafted, high performance, environmentally friendly, electric recreational powerboats to recreational customers.
The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Simply stated, a smoother ride than a traditional ICE motorboat.
Forward-Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are different to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Vision’s control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Vision’s filings with the SEC, including its registration statement on Form F-1, as amended from time to time, under the caption “Risk Factors.” Any forward-looking statement in this press release speaks only as of the date of this release. Vision undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
For further information, pleasecontact:
Bruce Nurse, Investor Relations
(800) 871-4274
https://visionmarinetechnologies.com
Exhibit 99.4
VisionMarine Partners with Tourism Quebec and Transport Canada Providing Electric Boats
Montreal, Canada, Dec. 09, 2020 (GLOBE NEWSWIRE) -- NewMediaWire -- Vision Marine Technologies, Inc., (NASDAQ: VMAR) ("Vision" or the "Company"), the leading provider of electric technology in the design and manufacture of the first fully electric powertrain outboard motor (E-Motion) and electric power boats, announced today a partnership with Tourism Quebec and Transport Canada for what is referred to as the Haut-Richelieu project. Under the agreement for this project, Vision will provide up to 15 electric boats for rental and water taxi operations along a 30 km section of waterways near the city of Montreal. Vision has received an initial deposit to commence the start of the process of building the electric boats for delivery by Spring 2021.
The Company believes that if they deliver all 15 electric boats, the Haut-Richelieu project will become the largest electric boat operation in Canada. The project has a mandate to ensure the development and promotion of tourism by providing an ecofriendly solution to boating throughout the Richelieu River waterways.
Christian Desautels, General Manager of the Haut-Richelieu project, stated, "A unique rental and water taxi operation with nautical lookouts at strategic locations on the Richelieu river from Noyan to Saint-Jean-sur-Richelieu. The 30 km circuit will include 15 stopovers for discovery, accommodations, and outdoor activities. This ecofriendly and highly touristic operation is our main development and growth site in the Quebec province. Our goal is to democratize the waterways access for all citizens. Vision Marine Technologies is our first and main partner for this project."
Alex Mongeon, Co-Founder and Chief Executive Officer, stated, "We are excited to be the main provider of fully electric power boats to the province of Quebec and the development of this initial project. We look forward to further developing a strong partnership in Quebec and throughout Canada with Transport Canada."
About Vision Marine Technologies
Vision Marine Technologies, Inc., strives to change and be a contributing factor in fighting the problem of waterway pollution by disrupting the boating industry with electric power, contributing to zero pollution, zero emission, wave less water, and a noiseless environment.
Our flagship outboard powertrain (E-Motion) is the first fully electric outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design and extensive control software. Our E-Motion technology used in this powertrain system are designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance.
Vision continues to design, innovate, manufacture, and sell our handcrafted, high performance, environmentally friendly, electric recreational powerboats to recreational customers.
The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Simply stated, a smoother ride than a traditional ICE motorboat.
Forward-Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are different to predict or quantify. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Vision's control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Vision's filings with the SEC, including its registration statement on Form F-1, as amended from time to time, under the caption "Risk Factors." Any forward-looking statement in this press release speaks only as of the date of this release. Vision undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
For further information, please contact:
Bruce Nurse, Investor Relations
(800) 871-4274
https://visionmarinetechnologies.com
Exhibit 99.5
VisionMarine Technologies Partners with Gateway to Lead Expanded Investor Relations Program
Montreal, Canada, Dec. 17, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Vision Marine Technologies, Inc.,(NASDAQ: VMAR) ("Vision” or the "Company"), the leading provider of electric technology in the design and manufacturing of the first fully-electric powertrain outboard motor (E-Motion) and electric power boats, has appointed Gateway Investor Relations, a leading strategic financial communications and capital markets advisory firm, to manage its expanded IR program initiatives, including providing corporate messaging and other consulting services to the Company.
Gateway will work closely with Vision’s management over the coming months to develop and deploy a comprehensive outreach and communications program. Activities will include but are not limited to: refining overall company and investment-oriented messaging and corporate positioning, strategic advisory services, and introductions to institutional investors, sell-side analysts and other key influencers in the broader financial community. Gateway will also assist in organizing road shows and securing invitations to select financial conferences and events, including its annual Gateway Conference.
“After the success of our recent IPO, we are looking to build on our capital markets momentum and have engaged Gateway to more broadly and strategically deliver our message to the investment community,” said Alex Mongeon, Co-Founder and Chief Executive Officer of Vision Marine Technologies. “As the only electric boat maker listed on Nasdaq and with the swelling investor interest for EVs and related technologies, we believe Vision has a compelling growth story to tell with numerous industry and company-specific tailwinds on the horizon.
“Gateway’s extensive experience in the EV and clean technology space and deep relationships with companies and investors operating in our markets make them a natural partner for our outreach and communications efforts. Their proven track record in supporting emerging growth companies like Vision will be a valuable resource as we look to drive expanded sales of our industry-leading, recreational boating models and underlying powertrain technology systems.”
About Vision Marine Technologies
Vision Marine Technologies, Inc., strives to change, and be a contributing factor in fighting, the problem of waterway pollution by disrupting the boating industry with electric power, contributing to zero pollution, zero emission, wave-less water, and a noiseless environment. Our flagship outboard powertrain (E-Motion) is the first fully electric outboard powertrain system that combines an advanced battery pack, inverter, and high-efficiency motor with proprietary union assembly between the transmission, electric motor design and extensive control software. Our E-Motion technology used in this powertrain system is designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance.
Vision continues to design, innovate, manufacture, and sell our handcrafted, high performance, environmentally friendly, electric recreational powerboats to recreational customers. The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Simply stated, a smoother ride than a traditional ICE motorboat.
About Gateway Investor Relations
Gateway is a leading strategic financial communications and capital markets advisory firm. For more than 20 years, Gateway has delivered superior performance in strategic consulting, corporate messaging and positioning, investor awareness, and analyst and financial press coverage. Gateway executives have extensive experience in capital markets and financial communications, and represent clients in a wide range of industries, including technology, consumer, industrials, financial services, and business services. To learn more, please visit gatewayir.com. Make sure to follow us on Twitter, LinkedIn and Facebook.
Forward-Looking Statements
The statements contained inthis press release that are not historical facts are forward-looking statements. The forward-looking statements are subject tovarious risks, uncertainties, assumptions, or changes in circumstances that are different to predict or quantify. Actual resultsmay differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market,regulatory and other factors, many of which are beyond Vision’s control. Important factors that could cause actual resultsto differ materially from those in the forward-looking statements are set forth in Vision’s filings with the SEC, includingits registration statement on Form F-1, as amended from time to time, under the caption “Risk Factors.” Any forward-lookingstatement in this press release speaks only as of the date of this release. Vision undertakes no obligation to publicly updateor review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as maybe required by any applicable securities laws.
Company Contact:
Bruce Nurse
(800) 871-4274
Investor Relations Contact:
Gateway Investor Relations
Sean McGowan and Tom Colton
(949) 574-3860
Exhibit 99.6
Vision Marine Signs Purchase Order withBoat Fix to Furnish Its Electric Powerboats and E-Motion Motors with Customized Telematics Devices and Monitoring Software
Montreal, Canada, January 28, 2021 – Vision MarineTechnologies, Inc. (Nasdaq: VMAR) (“Vision” or the “Company”) a leader in transforming the boating market by designing and manufacturing environmentally friendly electric boats and propulsion systems, is pleased to announce that it has signed a purchase order with Boat Fix, Inc. (“Boat Fix”), a leading boat maintenance and tracking services provider, to outfit its electric powerboat fleet with Boat Fix’s customized telematics devices as well as a monitoring software application and customer support and services.
Based in Fairfield, CT, Boat Fix provides technology tools that empower any boat user to remotely access information about their boats, including 24/7 monitoring of essential functions, alarm response and mechanical support. The purchase order is the first step in a strategic alliance where Boat Fix will supply Vision with the devices and software for all boats produced by Vision as well as for its OEM customers purchasing Vision’s E-Motion propulsion system.
“In the realm of electric boat manufacturers, few companies offer the quality and performance of a Vision electric vessel,” said Alastair Crawford, Founder, Boat Fix. “One of the unique challenges of electric propulsion is that the charge remaining in the battery is dependent on speed and therefore, unlike a fuel gauge, it is hard to know how much range you have left. In addition to providing our standard vessel monitoring, we have created a solution that will make sure users have the runtime to get where they are going so, they can enjoy the quiet and serenity of an electric boat.”
Alex Mongeon, Co-Founder and Chief Executive Officer of Vision, stated, “Our purchase order with Boat Fix is just another step in the process of making our boats and propulsion systems the safest and best choice for customers. With the Boat Fix system installed on our products, boaters can enjoy a greater level of security and confidence in the water. For our OEM customers, we believe the increased control and oversight into their data will allow them to better manage their time and resources.”
About Boat Fix, Inc.
Founded nearly 30 years ago, Boat Fix, Inc. is headquartered in Connecticut, and operates in the US and the UK. The membership and monitoring services include 24/7 customer support, and continuous monitoring of essential boat functions, alarm response, GPS tracking and access to mechanical support. The services can be tracked and activated via a user-friendly app. To learn more, please visit BF’s website: http://www.boatfix.biz/.
About Vision Marine Technologies, Inc.
Vision Marine Technologies, Inc., is committed to fighting the problem of waterway pollution by disrupting the boating industry through the introduction of the first fully electric 180hp integrated outboard powertrain system (“E-Motion”). E-Motion combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design and extensive control software. Our technologies used in this E-Motion powertrain system are designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance.
Vision also continues to design, innovate, manufacture, and sell a broad variety of handcrafted, environmentally friendly, electric powerboats to the recreational consumer. The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Together, Vision’s electric powerboats and flagship E-motion propulsion system result in zero pollution, zero emission and a noiseless environment. Simply stated, a smoother and cleaner ride than traditional gasoline or diesel motorboats. For more information on the Company, please visit: https://visionmarinetechnologies.com
Forward-Looking Statements
The statements contained in this press release that are nothistorical facts are forward-looking statements. The forward-looking statements are subject to various risks, uncertainties, assumptions,or changes in circumstances that are different to predict or quantify. Actual results may differ materially from these expectationsdue to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of whichare beyond Vision’s control. Important factors that could cause actual results to differ materially from those in the forward-lookingstatements are set forth in Vision’s filings with the SEC, including the Annual Report on the 20-F, as amended from timeto time, under the caption “Risk Factors.” Any forward-looking statement in this press release speaks only as of thedate of this release. Vision undertakes no obligation to publicly update or review any forward-looking statement, whether as aresult of new information, future developments or otherwise, except as may be required by any applicable securities laws. https://visionmarinetechnologies.com
Company Contact:
Bruce Nurse
(800) 871-4274
Investor Relations Contact:
Gateway Investor Relations
Sean McGowan and Tom Colton
(949) 574-3860