Vision Marine Technologies Inc. approved a 1-for-10 reverse stock split expected to take effect when the market opens on Aug. 26, 2026, with shares continuing to trade under VMAR on a split-adjusted basis. The action is intended to increase the per-share market price and help the company regain compliance with Nasdaq’s $1 minimum bid-price requirement, although compliance is not assured. Approximately 6.53 million shares would become about 653,046, subject to rounding, and the post-split shares will have CUSIP 92840Q608. The company also remains party to a non-binding Aug. 20 letter of intent for a proposed reverse takeover by an unnamed private defense-technology company. Under the proposal, the counterparty’s shareholders would own about 97.1% of the combined company before financing, while existing Vision Marine securityholders would own about 2.9%, potentially rising to about 5.7% through contingent consideration. The transaction remains subject to due diligence, definitive agreements, financing of at least US$25 million, at least US$100 million of binding 2027 purchase orders, shareholder, regulatory and stock-exchange approvals, and other conditions.