VISION MARINE TECHN. NEW

Vision Marine Technologies is implementing a board-approved 1-for-10 stock consolidation effective at the start of trading next Tuesday. The number of outstanding common shares will be reduced from about 6,530,460 to approximately 653,046; the new CUSIP is 92840Q608. The move aims to raise the per-share price to regain compliance with Nasdaq’s $1.00 minimum under Rule 5550(a)(2), although compliance is not guaranteed. Fractional shares will be rounded up, Odyssey Trust Company will serve as exchange agent, and holders in street-name custody need take no action. » More on de.investing.com

Vision Marine signed a non-binding letter of intent for a proposed reverse takeover with a private provider of unmanned aviation and autonomy systems. Under the proposed terms, existing Vision Marine shareholders would hold about 2.9% of the combined company, with possible additional consideration of up to 2.8% if certain milestones are met (maximum ~5.7%). Completion is subject to several conditions, including mutual due diligence, shareholder and stock exchange approvals, preparation of required financial statements, accompanying financing of at least $25 million, and binding purchase orders from the counterparty totaling at least $100 million for 2027. The parties aim to sign final agreements by 15 October 2026 and to close by 31 December 2026; the letter of intent is non-binding. » More on de.investing.com

Vision Marine appointed Lakshmi Rampersaud as general manager of its subsidiary Nautical Ventures and transferred to her responsibility for day-to-day operations as well as the coordination of sales, service, procurement, inventory management, accounting and customer support in Florida. Rampersaud has worked for Nautical Ventures since 2021 and brings more than 18 years of experience in marine retail, supply-chain management and international logistics. She will work closely with COO Maxime Poudrier to ensure alignment between Nautical Ventures and the parent company. » More on de.investing.com