Volcon closes $700K public offering of 1.4M shares at $0.50/share

Empery Digital Inc.

Gross proceeds $700,000; net proceeds ~$547,000 after underwriting discounts and expenses.
1,400,000 shares sold at $0.50/share; underwriter has 45-day option for 210,000 additional shares.
Underwriter granted warrants to purchase up to 20% of shares at $0.625/share.
Net proceeds to be used for general corporate purposes, working capital, and IR activities.
Offering utilizes remaining shelf capacity; maximum gross including overallotment ~$805,000.

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 Up to 1,400,000 shares of common stock, $0.50 per share, net proceeds ~$547,000, underwriting discou (effective 2023-09-15).

Action: entry
Agreement: underwriting
Counterparty: Aegis Capital Corp.
Value: Up to 1,400,000 shares of common stock, $0.50 per share, net proceeds ~$547,000, underwriting discou
Effective: 2023-09-15

Exact text from the filing

On September 15, 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 1,400,000 shares (the “Shares”) of the Company’s common stock, par value $0.00001 per share.

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Empery Digital Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-006523

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