Vision Marine signs LOI for reverse takeover by undisclosed defense, UAV counterparty
VMAR•Reverse takeover LOI signed
Vision Marine signed a non-binding LOI for a reverse takeover with an undisclosed private operating company focused on unmanned aerial vehicles.
Ownership split and closing conditions
Counterparty shareholders would hold about 97.1% of the combined company at closing, while Vision Marine securityholders would hold about 2.9%.
Up to 2.8% of additional contingent shares could lift Vision Marine holders to about 5.7%, tied to autonomy and sales milestones.
Closing is targeted by Dec. 31, 2026, subject to at least USD 25 million in financing and USD 100 million in 2027 purchase orders. Shares are expected to remain listed on Nasdaq, subject to exchange review.
