Vision Marine Technologies Inc

Vision Marine Technologies announced that the TSX Venture Exchange has approved its plan to launch a normal course issuer bid, allowing the company to repurchase its common shares. To facilitate the buyback program, Vision Marine has entered into an issuer repurchase agreement with Ventum Financial Corp. Under the program, Vision Marine may repurchase for cancellation up to 326,523 common shares, representing approximately 5% of the company's issued and outstanding common shares as of August 4, 2026. Purchases under the program may commence on August 7, 2026, and will terminate on the earliest of August 6, 2027.

Vision Marine Technologies shares surged about 23% in pre-market trading Thursday after the company announced a Florida real-estate optimization plan expected to generate approximately $13.1 million in gross proceeds and $5.58 million in net equity. The initiative includes the sale of its Fort Lauderdale property at 1400 S. Federal, which is under contract for $9.65 million if it closes by August 30, or $10 million thereafter, with Vision Marine expecting about $4.88 million in net equity and $2.32 million in annual site-related cost savings from that transaction alone. Management anticipates the overall plan will reduce annual site-related operating expenses by about $3.46 million before transition costs, or roughly 18% of its annualized operating-cost base. The company said the expected net equity from the pending transactions would provide additional flexibility for balance-sheet management, working-capital needs, and financing optimization, though the transactions remain subject to conditions and may not close as planned.

Vision Marine Technologies has completed the relocation of its tender-rigging operations from Palm City to Nautical Ventures' Fort Lauderdale Marina, a move executed in May that lowered operating costs and improved efficiency by consolidating service, rigging, logistics, and delivery under one waterfront facility. The electric marine propulsion company now plans to sell its Palm City property to simplify its Florida real estate footprint, with the sale subject to customary closing conditions. On the NASDAQ, VMAR ended Monday's trading at $1.3700, down 4.9 percent, and was down 2.9 percent to $1.3300 in pre-market trading.