Volcon closes $9M combined public offering and private placement of convertible notes

Empery Digital Inc.

Priced public offering of 6,000,000 shares at $0.75, raising gross proceeds of $4.5M; net proceeds ~$4.0M.
Concurrent private placement: $4.9M senior convertible notes (9-month) and warrants to purchase ~5.5M shares at $1.09.
Exchanged $27.2M of existing notes for new notes with conversion prices $1.09 and $0.75; warrants exchanged for 17.1M shares exercisable at $1.09.
Conversion/exercise prices subject to shareholder approval to adjust to $0.75.
Aegis Capital Corp. acted as sole book-runner and placement agent.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Empery Digital Inc. entered into Underwriting Agreement with Aegis Capital Corp. valued at approximately $4.0 million (effective 2023-05-22).

Action: entry
Agreement: underwriting
Counterparty: Aegis Capital Corp.
Value: approximately $4.0 million
Effective: 2023-05-22

Exact text from the filing

On May 22, 2023, Volcon, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Aegis Capital Corp. (the “Underwriter”), in connection with a public offering (the “Offering”) of an aggregate of 6,000,000 shares (the “Shares”) of the Company’s common stock

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Empery Digital Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-003688

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