Welcome to our dedicated page for Volcon news (Ticker: VLCN), a resource for investors and traders seeking the latest updates and insights on Volcon stock.
Volcon Inc (VLCN) is a leader in electric off-road vehicles, pioneering sustainable solutions for powersports enthusiasts and commercial operators. This news hub provides investors and industry stakeholders with essential updates about the company's strategic initiatives, product developments, and market positioning.
Discover official press releases covering earnings reports, new vehicle launches like the Stag and Brat electric motorcycles, and strategic partnerships that drive Volcon's growth in the electric mobility sector. Our curated collection ensures timely access to operational updates, technological advancements in battery systems, and expansion of dealer networks across North America.
Key content includes announcements about commercial UTV deployments, sustainability milestones, and manufacturing collaborations that reinforce Volcon's commitment to emission-free off-road experiences. Bookmark this page for verified updates about product availability, regulatory compliance achievements, and industry recognition of Volcon's innovative approach to electric powersports.
Volcon Inc. (NASDAQ:VLCN), the pioneering all-electric, off-road powersports company, has regained compliance with Nasdaq's listing rules. This announcement comes following a notification from Nasdaq's Hearing Panel. The company's compliance status is subject to a Nasdaq Discretionary Panel Monitor for one year. This development is important for Volcon, as it ensures the company's continued presence on the Nasdaq stock exchange, providing stability and maintaining investor confidence in the electric vehicle manufacturer.
Volcon (NASDAQ: VLCN), the first all-electric off-road powersports company, announced the closing of a $12 million registered direct offering priced at-the-market. The offering included the sale of 3,287,671 shares of common stock and/or pre-funded warrants at $3.65 per share. The total gross proceeds were approximately $12 million. The offering closed on July 12, 2024, with Aegis Capital Corp. serving as the exclusive placement agent. The proceeds will be partially used to repay $2.94 million in principal on notes issued on May 22, 2024. Additionally, all Series A convertible preferred stock has been converted to common stock, leaving no convertible debt or preferred stock outstanding and less than $40,000 in debt remaining.
Volcon (NASDAQ: VLCN), the first all-electric, off-road powersports company, announced a $12 million registered direct offering of 3,287,671 shares of common stock and/or pre-funded warrants priced at $3.65 per share. The transaction is expected to close on July 12, 2024, subject to customary conditions. The offering's proceeds will be partly used to repay $2.94 million of principal on notes issued on May 22, 2024. Following the offering, Volcon will have no convertible debt or preferred stock and less than $40,000 in outstanding debt. The shares were registered with the SEC under Form S-3, effective March 21, 2023.
Volcon, trading as VLCN on NASDAQ, has announced a 1-for-100 reverse stock split, effective at 11:59 pm ET on June 6, 2024. The split will consolidate every 100 shares into one share, reducing the total outstanding shares from 33.3 million to approximately 0.33 million. The stock will continue trading under the ticker VLCN but with a new CUSIP number 92864V400 starting June 7, 2024. Stockholders will receive whole shares, with fractional shares rounded up. The number of authorized shares remains at 250 million, and shares reserved for equity compensation will be reduced proportionately.
Volcon Inc. (NASDAQ:VLCN) reported operational highlights and financial results for Q1 2024, including Nasdaq compliance extension, Stag delivery milestones, EVO sales growth, plans for new products, and financial data showing revenue of $1.0 million, operating expenses of $3.7 million, and a net loss of $26.0 million.
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