Vision Marine Technologies Enters Non-Binding Agreement to Be Acquired by Unnamed Company

07:27 AM EDT, 08/24/2026 (MT Newswires) -- Vision Marine Technologies (VMAR) entered into a non-binding letter of intent last week with a privately held operating company regarding a proposed business combination, the company said Monday. The identity of the operating company and financial terms were not disclosed. The proposed transaction is expected to be a reverse takeover of Vision Marine that would result in a change of control of the company, the company said. Current Vision Marine securityholders are expected to retain around 2.9% of the combined company at closing, the company said. The two companies plan to announce a deal by Oct. 15 and complete it by Dec. 31, the company said. The combined company will continue to be listed on Nasdaq, subject to approvals, the company said.