---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-001263"
form_type: "8-K"
ticker: "EMPD"
cik: "0001829794"
company_name: "Empery Digital Inc."
filed_at: "2024-03-04T23:59:59+00:00"
generated_at: "2026-06-05T04:55:40.066311+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Volcon exchanges ~$24.68M convertible notes for Series A preferred, eliminating substantial debt

## Summary
- Exchanged $24.68M aggregate principal of senior convertible notes for Series A convertible preferred shares at $1,000 per share.
- Preferred Stock pays no dividends, has no operational covenants, and is not redeemable except upon change of control.
- Preferred convertible into common at $1.33 per share; voting rights equal to common shares upon conversion.
- Exchange removes substantially all debt from balance sheet; relies on Section 3(a)(9) exemption from registration.
- Holders received one share of Preferred per $1,000 principal; conversion price subject to adjustment for dilutive issuances or reverse splits.

## SEC filing metadata
- accession: 0001683168-24-001263
- form_type: 8-K
- ticker: EMPD
- cik: 0001829794
- company_name: Empery Digital Inc.
- filed_at: 2024-03-04T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1829794/000168316824001263/0001683168-24-001263-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1829794/000168316824001263/volcon_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-001263
- JSON: https://secwatch.observer/filing/0001683168-24-001263.json
- Plain text: https://secwatch.observer/filing/0001683168-24-001263.txt

## Key facts
- Material Agreements
  Empery Digital Inc. entered into Exchange Agreements with holders of all of its senior convertible notes valued at approximately $24.68 million aggregate principal amount of Notes (effective 2024-03-03).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: holders of all of its senior convertible notes
  - Value: approximately $24.68 million aggregate principal amount of Notes
  - Effective: 2024-03-03
  source text: On March 3, 2024, Volcon, Inc. (the “Company”) entered into Exchange Agreements (each, an “Agreement”) with the holders of all of its senior convertible notes (the “Notes”), pursuant to which the holders agreed to exchange approximately $24.68 million aggregate principal amount of Notes for shares of the Company’s Series A convertible preferred stock (the “Preferred Stock”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1829794/000168316824001263/0001683168-24-001263-index.htm

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