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Volcon Raises Over $500 Million to Launch Bitcoin Financial Strategy
Summary: According to reports, American electric vehicle company Volcon has announced plans to adopt a Bitcoin financial strategy. The company has reached securities purchase agreements with certain institutions and accredited investors to privately purchase and sell 50,142,851 shares of common stock at $10 per share, with expected total proceeds exceeding $500 million, net of placement agent ...
According to reports, American electric vehicle company Volcon has announced plans to adopt a Bitcoin financial strategy. The company has reached securities purchase agreements with certain institutions and accredited investors to privately purchase and sell 50,142,851 shares of common stock at $10 per share, with expected total proceeds exceeding $500 million, net of placement agent fees and other offering expenses (private placement). Empery serves as the lead investor, with participants in this offering including well-known crypto venture capital firms and infrastructure providers such as FalconX, Pantera, Borderless, RK Capital, and Relayer Capital, as well as traditional financial investors. The offering is expected to close around July 21, 2025, subject to customary closing conditions. The company plans to immediately use at least 95% of the total proceeds to acquire Bitcoin, which will serve as the company's primary financial reserve asset.
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