Bitcoin News Today: Volcon Secures $500 Million Raising 95% for Bitcoin Reserve

Volcon Inc. has successfully secured over $500 million through a private placement, issuing 50,142,851 shares of common stock at $10.00 per share to institutional and accredited investors. The electric off-road vehicle manufacturer plans to allocate at least 95% of the gross proceeds to acquire Bitcoin, designating it as the company's primary treasury reserve asset. The closing of this transaction is expected to occur on or about July 21, 2025.

Empery Asset Management led the offering, with participation from prominent crypto venture capital firms such as FalcolnX, Pantera, Borderless, RK Capital, and Relayer Capital, as well as traditional financial investors. Ryan Lane, co-founder and Managing Member of Empery Asset Management, has been appointed as co-CEO and Chairman of the Board of Directors of Volcon. Additionally, Ian Read, Rohan Chauhan, and Matthew Homer have been added to the board until the next shareholder meeting.

Volcon has entered into a Strategic Digital Assets Services Agreement with Gemini Nustar LLC, an affiliate of Gemini Trust Company, to execute its bitcoin treasury strategy. John Kim will continue as co-CEO, focusing on leading the company’s electric vehicle business transformation. Clear Street LLC acted as the lead placement agent, and Aegis Capital Corp. served as the co-placement agent and exclusive financial advisor for the private placement. The securities are being offered in a private placement under exemptions from Securities Act registration requirements, with the company agreeing to file a registration statement with the SEC for the resale of the shares.

This strategic move by Volcon to allocate a significant portion of its funds to Bitcoin reflects a growing trend among companies to diversify their treasury reserves by including digital assets. By prioritizing Bitcoin as its primary treasury reserve asset, Volcon aims to hedge against economic uncertainties and capitalize on the potential long-term value of digital currencies. This decision underscores the company's forward-thinking approach to financial management, recognizing the increasing importance of digital currencies in the global economy. The partnership with Gemini Nustar and the appointment of Ryan Lane further strengthen Volcon's commitment to integrating digital asset management into its business model, positioning the company for success in the evolving landscape of electric vehicle manufacturing.