Vision Marine Implements 1-for-10 Reverse Split to Meet Nasdaq Bid Requirement
VMAR•Vision Marine's board approved a 1-for-10 reverse stock split effective June 17, 2026, consolidating approximately 7.27 million outstanding shares into about 727,050 common shares to meet Nasdaq's $1.00 minimum bid price requirement. Equity awards and exercise prices will be proportionally adjusted, and fractional interests rounded to whole shares.
1. Reverse Split Details
Vision Marine's board approved a 1-for-10 reverse stock split effective at market open on June 17, 2026. The consolidation reduces issued and outstanding shares from 7,270,497 pre-split to approximately 727,050 post-split, with the trading symbol remaining unchanged.
2. Purpose and Compliance
The primary objective of the reverse split is to raise the per-share price above the Nasdaq Listing Rule 5550(a)(2) threshold, which requires a minimum $1.00 bid price. This action preserves the company’s Nasdaq listing and aims to improve market perception of the share price.
3. Equity Adjustments and Fractional Shares
Outstanding equity awards and shares under the equity incentive plans will be proportionately adjusted, including revised exercise prices and share counts. No fractional shares will be issued; shareholders will receive one whole share in lieu of any fractional interest, with Odyssey Trust Company acting as the exchange agent.
