Vision Marine signs LOI for business combination with undisclosed private company
VMAR•Financing, order and timing conditions
Closing is conditioned on at least USD 25 million of financing; the counterparty must secure at least USD 100 million in binding purchase orders for 2027 deliveries.
Definitive agreements are targeted by Oct. 15, 2026; closing is targeted by Dec. 31, 2026. Combined shares are expected to remain Nasdaq-listed, subject to approval.
Proposed ownership split and contingent consideration
Counterparty shareholders would own about 97.1% of the combined company at closing; existing Vision Marine securityholders about 2.9%.
Contingent share consideration of up to 2.8% could lift Vision Marine holders’ stake to about 5.7% if milestones are met.
LOI for reverse takeover with private operating company
Vision Marine signed a non-binding LOI for a reverse takeover by a privately held operating company focused on unmanned aerial vehicles and defense technologies.
