Publicly traded company Volcon has made its first purchase of 280.14 bitcoins and completed a over $500 million private placement to acquire Bitcoin.
2025.07.22 09:08:29
BlockBeats had previously reported that on July 17th, the electric vehicle company Volcon announced that it would adopt a bitcoin financial strategy. It had entered into securities purchase agreements with certain institutions and accredited investors to privately purchase and sell 50,142,851 shares of common stock at a price of $10 per share, with expected total proceeds exceeding $500 million after deducting placement agent fees and other offering expenses (private placement). Empery led the round, and participants included well-known crypto venture capital firms and infrastructure providers such as FalconX, Pantera, Borderless, RK Capital, and Relayer Capital, as well as traditional financial investors.
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