Vision Marine Technologies Signs Reverse Takeover Letter of Intent

Vision Marine Technologies Inc. signed a non-binding letter of intent on August 20, 2026, for a proposed business combination structured as a reverse takeover by an undisclosed privately held company. The counterparty specializes in unmanned and autonomous aerial systems designed for critical infrastructure and defense.

Under the proposed terms, shareholders of the private company would own approximately 97.1% of the combined entity. Vision Marine securityholders would retain roughly 2.9%, with the possibility of increasing that stake to 5.7% if the company meets contingent milestones regarding government or military sales and maritime autonomy.

The transaction is subject to several conditions, including the counterparty securing at least $100 million in binding purchase orders for 2027 deliveries and a minimum of $25 million in financing. The parties intend to execute definitive agreements by October 15, 2026, and complete the transaction by December 31, 2026. The combined company plans to remain listed on the Nasdaq Capital Market.