Vision Marine Technologies Inc. surged nearly 10% in early trading on Friday after executing a 1-for-10 reverse stock split and disclosing plans for a strategic business combination with an undisclosed privately held defense and unmanned aerial vehicle (UAV) systems company.
The Vancouver-based marine powertrain developer’s shares traded at $7.90 in morning activity, up from a prior close of $0.72 on a pre-split basis. The reverse split, approved by the board on August 20 and implemented at market open, aims to lift the per-share price toward Nasdaq’s $1.00 minimum bid price requirement, though compliance remains uncertain.
In parallel, Vision Marine disclosed a non-binding letter of intent for a proposed business combination targeting definitive agreements by October 15, 2026, with completion anticipated by the end of next year. The target company operates in UAVs and defense systems, a sector distinct from Vision Marine’s existing marine powertrain business.
The company also filed a new U.S. patent application on August 25 covering charging protection technology for its E-Motion™ high-voltage marine powertrain. Concurrently, Vision Marine announced its shares would voluntarily delist from the TSX Venture Exchange to consolidate its public-market presence on the Nasdaq.
Vision Marine’s broader sector peers, including Twin Vee Powercats and MasterCraft Boat Holdings, traded mixed as the S&P 500 rose 0.1%, the Dow Jones held flat, and the Nasdaq composite edged lower.
