Vision Marine Technologies Inc. (VMAR) surged nearly 10% in early trading after executing a 1-for-10 reverse stock split, lifting its share price to $7.90 from a prior close of $7.20 on a split-adjusted basis.
The reverse split, approved by the company’s board on August 20, 2026, and announced on August 24, was implemented to raise the per-share price above Nasdaq’s $1.00 minimum bid price requirement. The move follows the company’s voluntary delisting from the TSX Venture Exchange to focus its public trading presence on Nasdaq.
VMAR also disclosed a non-binding letter of intent for a proposed business combination with an undisclosed privately held company specializing in unmanned aerial vehicles and defense systems. The parties aim to finalize definitive agreements by October 15, 2026, with a targeted completion date by year-end.
The company filed a new U.S. patent application on August 25, 2026, covering charging protection technology for its E-Motion high-voltage marine powertrain. The filing comes as VMAR seeks to strengthen its intellectual property portfolio amid broader strategic shifts.
Shares of VMAR were among the most active in the electric and recreational marine sector, where peers such as Twin Vee Powercats and MasterCraft Boat Holdings traded with muted movement. The S&P 500 rose 0.1%, the Dow Jones Industrial Average was essentially flat, and the Nasdaq composite edged slightly lower.
