Christian Okonsky
On September 9, 2024, Christian Okonsky resigned as a member of the Volcon, Inc. (the “Company”) Board of Directors (the “Board”).
Highest-materiality recent filing
Empery Digital raises $25M in registered direct offering at $5.39 (103% NAV); to repay $40M debt
Gross proceeds ~$25M from 4.64M shares (or pre-funded warrants) at $5.39 combined; warrants at $6.27 strike, 4-yr term.
Interest rate on $100M facility raised from 6.5% to 7.5%; collateral requirement cut from 250% to 174%.
Empery Digital repurchased 15.4M shares, sold 357.7 BTC for $24M, holds 3,723.7 BTC
Repurchased 15,403,738 shares at avg $6.71 under $200M program; shares outstanding now 36,016,497.
Empery Digital adopts poison pill after ATG Capital's rapid stake buildup; boosts buyback by $50M
Rights plan triggered at 12.5% ownership (passive investors 20%); expires Feb 2, 2027.
Empery Digital repurchased 14M shares at avg $6.94; $53M remains under $150M program
14,041,998 shares repurchased at average $6.94 per share through Jan 30, 2026.
Empery Digital repurchases 13.7M shares at avg $6.99; director Karin-Joyce Tjon resigns
Repurchased 13,705,746 shares under $150M program at avg $6.99 per share through Dec 5, 2025.
Empery Digital repurchases 13.7M shares at $6.99 avg; $54M left in $150M buyback program
Repurchased 13,675,782 shares at average $6.99 per share under $150M program as of Nov 28, 2025.
Empery Digital repurchases ~12.9M shares at $7.10 avg; uplists to Nasdaq Global Select Market
Repurchased 12,875,918 shares at avg $7.10 under $150M program, funded by $95M draw from $150M borrowing facility.
Empery Digital Reports Q3 2025 Net Loss of $34.6M and Repurchases 11.1M Shares Under $150M Program
Q3 2025 revenue was $198,301, down from $702,936 in Q2 2025; net loss of $34.6 million includes $14.1M unrealized loss on digital assets.
Empery Digital updates buyback: 10.2M shares repurchased at avg $7.42; $76M remaining
Repurchased 10,160,795 shares at avg price $7.42 under $150M program; $76M remains for future repurchases.
Empery Digital updates share repurchase: 8.14M shares bought at avg $7.55, $89M remaining
8,139,479 shares repurchased at avg $7.55; ~$89M remains under $150M stock repurchase program.
Empery Digital transfers Volcon brand for 10% stake in Venom; focuses on two-wheel business
Transferred all Volcon IP (trademarks, patents, designs) to Venom EV for a non-dilutable 10% equity stake in Venom's reorganized Delaware corporation.
Entered $100M delayed draw term loan with Two Prime Lending, due Oct 2026 (extendable to Oct 2027), interest 6.50% p.a.
Empery Digital repurchased 5.9M shares at avg $7.55; $55M remains under $100M buyback program
As of Oct 3, 2025, repurchased 5,911,309 shares at avg $7.55 per share under $100M program.
Empery Digital executes $50M Bitcoin-backed term loan; repurchases 4.45M shares at avg $7.48
$50M Term Loan (maturity Aug 31, 2026) used to repay existing facility in full with zero prepayment fees and fund share repurchases.
Empery Digital secures $50M Bitcoin-backed repo facility; ups buyback facility to $35M
Entered $50M Master Repurchase Agreement with NYDIG Funding LLC, advances secured by Bitcoin, interest at 8.5% per annum, matures August 31, 2026.
Super Sonic terminated exclusive U.S. distribution agreement with Empery Digital, effective Sept 18, 2025.
Empery Digital secures $75M credit facility with Galaxy Digital; bought back 1.6M shares at $7.23
Entered uncommitted revolving credit agreement with Galaxy Digital LLC for up to $75M in USD or digital currency.
Empery Digital reports Q2 results, adopts Bitcoin treasury with $481M raise, purchases $473M in BTC
Q2 2025 revenue $0.7M, net loss $3.9M; cost reduction focus ongoing.
Volcon renames to Empery Digital, holds 3,500 BTC; ticker becomes EMPD on July 31
Name change to Empery Digital Inc. effective July 30, 2025; new Nasdaq ticker EMPD starts July 31.
Volcon holds 3,183 BTC (~$375M) & authorizes $100M share repurchase
Holds 3,183.37 BTC bought for ~$375M, avg price $117,697/BTC.
Volcon closes $501M private placement, launches bitcoin treasury strategy, holds 280 BTC
Closed private placement with gross proceeds of ~$501M; issued 44.4M shares and pre-funded warrants for 5.7M shares.
Private placement of ~44.4M shares at $10/share + 5.7M pre-funded warrants; proceeds to buy Bitcoin for digital asset treasury.
Volcon announces 1-for-8 reverse stock split effective June 11, 2025
Reverse split ratio 1:8; effective 11:59 PM ET on June 11, 2025.
Volcon shareholders reject 2.1M share increase for stock plan; reverse split authorized
Proposal to increase 2021 Stock Plan by 2.1M shares failed (183,096 For, 183,622 Against, 236,184 Abstain).
Volcon receives Nasdaq delisting notice for bid price non-compliance; plans to appeal
Received Nasdaq deficiency letter on May 13, 2025 for bid price below $1.00 for 30 consecutive business days.
Volcon enters amended supplier agreement with Venom-EV for gold carts up to $2 million
Volcon appointed as Venom's exclusive supply representative for gold carts; purchase limit of $2.0M.
Volcon authorizes $2M share repurchase program through March 2026
Up to $2.0 million of common stock may be repurchased via open market, block trades, or private transactions.
Volcon Q4 2024 revenue $0.9M, net loss $5.2M; raises $19.5M in Feb 2025
Q4 2024 revenue $0.9M (vs Q3 $1.1M); net loss $5.2M; adjusted EBITDA loss $5.0M.
Volcon appointed exclusive supply representative for Venom-EV's gold carts; purchases up to $3.0M from manufacturer Whanlong.
Volcon CEO update: $19.45M raised, targets Q4 2025 cash flow positive
John Kim's first year: shifted from R&D to branded EV collaboration with AODES (Super Sonic).
Volcon closes $12M underwritten public offering of equity units with warrants
Offering closed Feb 6, 2025: gross proceeds $12M from 6M units at $2.00 per unit.
Volcon enters exclusive golf cart distribution deal with Super Sonic; equity-linked compensation
Exclusive US distributor of Super Sonic's electric golf carts; 1-year term, renewable.
Volcon terminates supplier agreements with GLV Ventures; pays $125K/month for 22 months
Terminated three supplier agreements for Stag prototypes, Grunt EVO motorcycle, and Stag vehicle with GLV.
Volcon announces 1-for-8 reverse stock split effective Nov 8, 2024
Reverse split at ratio of 1:8; post-split shares outstanding reduced from ~4.49M to ~0.56M.
Volcon ceases Stag vehicle line, terminates supplier agreement, evaluates inventory carrying value
On Oct 17, 2024, Volcon notified the Stag supplier of intent to terminate the supplier agreement.
On September 9, 2024, Christian Okonsky resigned as a member of the Volcon, Inc. (the “Company”) Board of Directors (the “Board”).
On July 29, 2024, the Board of Directors of Volcon, Inc. (the “Company”) appointed Adrian Solgaard as an independent member of the Company’s Board of Directors effective on such date.
Max materiality 0.95 · Median 0.62 · Most common event other_material