On July 22, Volcon, a publicly traded electric vehicle company in the United States, first purchased 280.14 bitcoins and completed a private placement financing of over $500 million for bitcoin purchases.
BlockBeats previously reported that on July 17, Volcon announced the adoption of a bitcoin financial strategy, having reached a securities purchase agreement with certain institutions and qualified investors to privately purchase and sell 50,142,851 common shares at $10 per share, with an expected total revenue of over $500 million, excluding placement agent fees and other issuance expenses (private placement). Empery served as the lead investor, and participants in this issuance included well-known crypto venture capital firms and infrastructure providers such as FalcolnX, Pantera, Borderless, RK Capital, and Relayer Capital, as well as traditional financial investors.
