Volcon, a listed company, purchased 280.14 bitcoins for the first time and completed over $500 million in private financing to purchase bitcoins

On July 22, Volcon, a US-listed electric vehicle company, purchased 280.14 bitcoins for the first time and completed more than $500 million in private placement financing for the purchase of bitcoins.

BlockBeats previously reported that on July 17, electric vehicle company Volcon announced that it would adopt a Bitcoin financial strategy. It has reached a securities purchase agreement with certain institutions and qualified investors to purchase and sell 50,142,851 shares of common stock in a private placement at a price of $10 per share, with an estimated total proceeds of more than $500 million, excluding placement agent fees and other issuance expenses (private placement). Empery served as the lead investor, and participants in the offering 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.