AUSTIN, TX – January 31, 2022 – (Motor Sports NewsWire) – Volcon Inc. (NASDAQ: VLCN), the first all-electric, off-road powersports company, today announced the pricing of an underwritten public offering (the “Offering”) of 6,666,667 shares of common stock, par value $0.00001 per share (“Common Stock”), to be issued by the Company, at a price to the public of $3.0 per Share. The gross proceeds from the Offering, before deducting underwriting discounts and commissions and estimated Offering expenses, are expected to be approximately $20.0 million.
In addition, the Company granted Aegis Capital Corp., the underwriter, a 45-day option to purchase up to 1,000,000 additional shares of Common Stock, solely to cover over-allotments, if any, which would increase the total gross proceeds of the Offering to approximately $23 million, if the over-allotment option is exercised in full.
The Offering is expected to close on February 1, 2022, subject to the satisfaction of…
Click Here to Read the Full Original Article at Motor Sports NewsWire…