Why Sparked Vision Marine Technologies (VMAR) Stock Jumped Nearly 17% After Hours? - Vision Marine Techs (NASDAQ:VMAR)

Group 1 - Vision Marine Technologies Inc. shares increased by 16.67% to $0.28 in after-hours trading following a best-efforts public offering [1] - The company priced 32 million units at $0.30 each, aiming for gross proceeds of $9.6 million before fees [2] - Each unit consists of one common share or a pre-funded warrant, along with a half warrant, with whole warrants allowing the purchase of one common share at an exercise price of $0.375 [2] Group 2 - The funds from the offering will be allocated for general corporate purposes, working capital, inventory management, floorplan credit lines, general and administrative expenses, and the E-Motion™ electric powertrain technology [4] - ThinkEquity is the sole placement agent for the offering, with the closing scheduled for Friday, subject to standard conditions [3] Group 3 - The Relative Strength Index (RSI) for Vision Marine Technologies is at 32.96, indicating a significant decline of 98.40% over the past 12 months [6] - The stock has a market capitalization of $1.20 million and has traded between a 52-week high of $38.60 and a low of $0.23 [6] - Currently, the stock is at approximately 0.03% of its 52-week range, suggesting it is very close to its annual low [7]