Volcon Inc. is conducting a $500 million private placement to fund a new Bitcoin treasury strategy, planning to invest at least 95 percent of the proceeds in Bitcoin. The share placement involves over 50 million shares priced at $10 each, targeting institutional and accredited investors. Empery Asset Management is the lead investor, alongside various crypto and traditional financial firms. The transaction is expected to close around July 21, 2025, with a strategic agreement established with Gemini Nustar LLC to implement the Bitcoin strategy, enhancing Volcon's transition into digital assets.
In an era of accelerating monetary debasement, holding Bitcoin on our balance sheet represents a strategic move to safeguard shareholder value and align with a digital future, said the co-CEO of Volcon John Kim.
I look forward to working with the Volcon and Gemini teams to operate a low cost, capital efficient, best of breed, Bitcoin treasury strategy reflecting our strong conviction in Bitcoin as the digital store of value for the future, stated the co-founder and Managing Member of Empery Ryan Lane.
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