E-Bike Maker’s Shares Soar 135% on $500 Million Bitcoin Treasury Plan
2025-07-17 23:02:59
Main Idea
Volcon's stock surged 135% after announcing a $500 million private placement to fund its shift towards digital assets and electric vehicles.
Key Points
1. Volcon's stock price increased by nearly 135% following the announcement of a $500 million private placement.
2. The company plans to use 95% of the raised funds to invest in digital assets and support its electric vehicle initiatives.
3. Volcon will sell 50,142,851 shares of common stock at $10 per share through the private placement.
4. The private placement is led by Empery Asset Management, with participation from firms like FalconX, Pantera, and Borderless.
5. The deal reflects a broader trend of companies, including Volcon, pivoting towards digital asset investments, similar to Michael Saylor's Bitcoin strategy.
Description
Electric vehicle maker Volcon announced that it would purchase about $470 million in Bitcoin, adding to the list of corporate BTC treasuries.
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