Vision Marine Plans To Buyback 10% Of Common Stock

by Shivani Kumaresan, Benzinga Staff Writer

December 20, 2021 8:17 AM | 1 min read | Make a Comment

Vision Marine Technologies Inc VMAR said its Board of Directors had authorized the repurchase of up to 10% of its common shares.
The company plans to conduct the buyback through open market purchases or privately negotiated transactions.
"We believe that our shares represent a unique value-driven opportunity, as the boating industry is at a critical inflection point regarding the transition to clean, cost-effective zero carbon emission watercraft," said Chairman Alan Gaines.
The company intends to repurchase shares using the company's working capital.
Price Action: VMAR shares closed lower by 5.79% at $5.21 on Friday.

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