Vision Marine Technologies Executes 1-for-10 Reverse Stock Split

The board of directors approved the consolidation, which will shrink the company’s issued and outstanding common shares from approximately 6.53 million to roughly 653,046. Any fractional shares resulting from the conversion will be rounded up to the nearest whole share. Trading under the ticker VMAR will continue on a split-adjusted basis, and the company has assigned a new CUSIP number, 92840Q608, to the consolidated stock.

While the company hopes this maneuver will satisfy Nasdaq Listing Rule 5550(a)(2), management acknowledged that there is no guarantee the split will result in a sustained market price increase or long-term compliance. Shareholders holding shares electronically or through brokerage accounts will see their positions automatically adjusted by the company's transfer agent, Odyssey Trust Company, requiring no direct action from investors. The company’s authorized share count remains limitless, and the par value of the common shares will not change.