secwatch.observer — SEC 8-K summary
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Issuer:     Empery Digital Inc. (EMPD)
CIK:        0001829794
Form:       8-K
Filed at:   2023-05-25T23:59:59+00:00
Accession:  0001683168-23-003688
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1829794/000168316823003688/0001683168-23-003688-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1829794/000168316823003688/volcon_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-003688

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer