Volcon Inc Stock Price, News & Analysis

Volcon (NASDAQ:VLCN) has announced the pricing of a $12.0 million underwritten public offering. The offering consists of 6,000,000 Common Units at $2.00 per unit (or $1.99999 for Pre-Funded Units). Each unit includes one share of Common Stock or Pre-Funded Warrant and one Registered Common Warrant exercisable at $2.00.

The Common Warrants have a 60-month expiration period from issuance. The transaction is expected to close around February 6, 2025. The company plans to use proceeds for general corporate purposes and working capital. Previously, Volcon sold 1,831,558 shares through an At-The-Market offering for approximately $9.47 million. Post-offering, assuming all Pre-Funded Warrants are exercised, Volcon would have approximately 8,475,607 shares outstanding.

Aegis Capital Corp. is serving as the sole book-running manager for this offering.

Volcon (Nasdaq: VLCN), an all-electric off-road powersports company, has announced the launch of a proposed public offering of securities. The offering includes common stock (or pre-funded warrants) and warrants to purchase common stock. Aegis Capital Corp is serving as the sole book-running manager on a firm commitment basis.

The company plans to use the net proceeds for general corporate and working capital needs. The offering is being made through an effective shelf registration statement on Form S-3 and will be conducted via a prospectus supplement and accompanying prospectus. The completion, size, and terms of the offering are subject to market conditions.

Volcon (NASDAQ: VLCN) has signed an agreement to become the exclusive U.S. distributor of Super Sonic (AODES) golf carts. Super Sonic, which manufactures in Vietnam, is already producing Volcon's MN1 Adventurer and MN1 Tradesman models. The strategic importance of this partnership is heightened by recent trade developments: Chinese golf cart imports face significant tariffs (149% to 500%) following an antidumping petition, while Vietnamese imports are taxed at just 2.5%.

This competitive advantage positions Volcon to potentially capture market share from Chinese manufacturers who supplied $450 million worth of golf carts (114,000 units) to the U.S. in 2023. The company sees opportunities to supply major retailers like Lowes, Home Depot, Tractor Supply, and Bass Pro Shop, which currently source from Chinese manufacturers. Additionally, Super Sonic is developing new golf cart designs that could revolutionize performance, style, and comfort.

Volcon ePowersports (NASDAQ: VLCN) has announced the arrival of their HF1 model at Lithium Powersports in Jacksonville, Florida. The unit is now available for public viewing and purchase at the dealership. Customers can experience the vehicle in person at the dealership location or visit their website at lithiumpowersports.com for more information.

Volcon ePowersports (NASDAQ: VLCN) announced the delivery of its first HF1 to Hal Calvert, a pioneer in off-grid living in Colorado. Hal, who lives on an 80-acre property surrounded by Bureau of Land Management territory and uses sustainable energy sources, chose the electric-powered HF1 for his land navigation and various tasks.

The Volcon team attended the delivery, providing Hal with a personalized walkthrough and recognizing him as the first official HF1 owner in the state. Volcon's Chief Sales Officer, Josh Rasmussen, highlighted the company's hybrid sales model, which captures sales from UTV and Golf Cart consumers and directs purchases made on Volcon.com to the nearest dealer for seamless customer experience and support.

Volcon plans to continue delivering more HF1 units across the U.S. through its network of over 100 dealers in 2025. The company has additional HF1 units being prepared for delivery from their Texas headquarters and expects to ramp up deliveries following the HF1's launch.

Volcon ePowersports (NASDAQ: VLCN) has announced that its MN1 model has arrived at Cycle Plaza in Corpus Christi, Texas, marking the second dealership to receive the unit. The vehicle is now available for display and sale at the dealership. Potential customers are invited to visit Cycle Plaza Corpus Christi either in person or through their website to examine the MN1 and learn about its features.

Volcon ePowersports (NASDAQ: VLCN) has announced that Electric Wheels will distribute the Volcon HF1 UTV in the United Kingdom and Europe. Electric Wheels, as the official European Distributor, will manage a dealer network across these regions. The distribution agreement comes through the HF1 manufacturer, which has licensing rights from Volcon for markets outside North America.

The HF1, Volcon's fastest vehicle to date, features all-wheel drive, 27" tires, speeds exceeding 50 mph, and a 700 kg payload capacity. The vehicle is currently undergoing UK and EU certification. While the company notes this agreement won't initially impact Volcon's finances, CEO John Kim views the European expansion as brand validation and a potential source of future royalties under their manufacturing agreement.

Volcon ePowersports (NASDAQ: VLCN) has announced that its 250W Brat model has successfully obtained Japanese government certification, allowing immediate sales throughout Japan. Certification for the 750W model is still in progress.

Volcon (NASDAQ:VLCN) announced a 1-for-8 reverse stock split effective November 8, 2024. The company's common stock will trade on Nasdaq Capital Market under the same ticker 'VLCN' but with a new CUSIP number starting November 11, 2024. The split will reduce outstanding shares from approximately 4.49 million to 0.56 million, while authorized shares remain at 250 million. Fractional shares will be rounded up to the nearest whole number, and the nominal par value remains $0.00001 per share.