Volcon Inc Stock Price, News & Analysis

Volcon ePowersports (NASDAQ:VLCN) has announced the first delivery of its HF1 electric vehicle in Colorado to Hal Calvert, a landowner with an 80-acre property. The customer, who exclusively uses sustainable energy sources, will utilize the HF1 for land navigation and property maintenance tasks.

The company's Chief Sales Officer, Josh Rasmussen, highlighted their hybrid sales model that connects UTV and Golf Cart consumers with Volcon's network of over 100 dealers. All four-wheel units purchased through Volcon.com will be allocated to the nearest dealer for customer support. The company is preparing additional HF1 units at their Texas headquarters and plans to increase deliveries following the product launch.

Volcon ePowersports (NASDAQ:VLCN) has announced that its 250W Brat model has received Japanese government certification, enabling immediate sales across Japan. The company is also pursuing certification for its 750W model. This development marks Volcon's entry into the Japanese market, expanding its international presence in the electric powersports sector.

Volcon ePowersports has undergone a significant strategic transformation under CEO John Kim's leadership. The company has shifted from an R&D-focused organization to one that collaborates with manufacturers to brand and sell electric vehicles. A key development is their partnership with AODES (Super Sonic), which helped raise $19.45 million for expanding into the golf cart and utility vehicle market.

The company benefits from favorable Vietnam tariffs of 2.5% compared to China's 500%, strengthening their manufacturing partnership. The recent investment will fund inventory expansion and sales team growth. The company has implemented cost-reduction measures, including reduced headcount and outsourced marketing. CFO Greg Endo projects achieving cash flow positivity by Q4 2025 with operations funded into 2026.

Volcon (Nasdaq: VLCN) has successfully closed its previously announced underwritten public offering, raising $12.0 million in gross proceeds. The offering comprised 6,000,000 Common Units, each consisting of one share of Common Stock or Pre-Funded Warrant and one Registered Common Warrant. The Common Units were priced at $2.00 each, with Common Warrants exercisable at $2.00 per share for 60 months.

Additionally, the company recently sold 1,831,558 shares through its At-The-Market agreement for approximately $9.47 million. Following the offering's closure and assuming all Pre-Funded Warrants are exercised, Volcon's outstanding Common Stock totals 8,572,429 shares. The company plans to use the net proceeds for general corporate purposes and working capital.

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.