IPO - Volcon, Inc.

Form Type: 8-K

Filing Date: 2025-02-06

Corporate Action: Ipo

Type: New

Accession Number: 000168316825000782

Filing Summary: On February 5, 2025, Volcon, Inc. entered into an underwriting agreement with Aegis Capital Corp. for a firm commitment underwritten public offering. The offering involves 430,000 common units, each consisting of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $2.00, as well as 5,570,000 pre-funded units. The purchase price for the common units was set at $2.00 each, while the pre-funded units were priced at $1.99999. The offering, closing on February 6, 2025, yielded approximately $12.0 million in gross proceeds. The net proceeds are intended for working capital and general corporate purposes. Underwriter Aegis Capital Corp. received an 8.0% discount and a non-accountable expense allowance of 1.0% of gross proceeds, along with reimbursement for certain expenses. Following the offering, additional pre-funded warrants were exercised, leading to 3,392,429 shares of common stock outstanding as of February 6, 2025.

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