E-Bike Maker’s Shares Soar 135% on $500 Million Bitcoin Treasury Plan

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.