---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-003569"
form_type: "8-K"
ticker: "EMPD"
cik: "0001829794"
company_name: "Empery Digital Inc."
filed_at: "2023-05-22T23:59:59+00:00"
generated_at: "2026-06-14T18:28:44.421559+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Volcon executes $4.93M convertible note private placement and $27.17M debt exchange

## Summary
- Issued $4,934,782 in senior convertible notes (initial conversion price $2.54) and warrants for 5.8M shares at $1.09 exercise price.
- Exchanged existing $27,173,913 Original Notes for Series A and Series B Exchange Notes plus Exchange Warrants.
- Closing contingent on an underwritten public offering raising at least $5.0M; net proceeds to company ~$4.5M.
- Eliminates $10M cash deposit requirement originally due Sept 30, 2023 under Original Notes.
- Shareholder approval needed for price adjustments to Transaction Price; special meeting within 60 days of closing.

## SEC filing metadata
- accession: 0001683168-23-003569
- form_type: 8-K
- ticker: EMPD
- cik: 0001829794
- company_name: Empery Digital Inc.
- filed_at: 2023-05-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829794/000168316823003569/0001683168-23-003569-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829794/000168316823003569/volcon_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-003569
- JSON: https://secwatch.observer/filing/0001683168-23-003569.json
- Plain text: https://secwatch.observer/filing/0001683168-23-003569.txt

## Key facts
- Material Agreements
  Empery Digital Inc. entered into Securities Purchase and Exchange Agreement with certain institutional investors valued at approximately $4.5 million in gross proceeds (effective 2023-05-19).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain institutional investors
  - Value: approximately $4.5 million in gross proceeds
  - Effective: 2023-05-19
  source text: On May 19, 2023, Volcon, Inc. (the “Company”) entered into a Securities Purchase and Exchange Agreement (the “Purchase Agreement”) with certain institutional investors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829794/000168316823003569/0001683168-23-003569-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.