Volcon ePowersports announces the price of its initial public offering

Posted: October 5, 2021 at 9:12 pm MDT|Update: 37 minutes ago

AUSTIN, Texas, October 5, 2021 / PRNewswire / – Volcon, Inc. (the “Company”), the leading all-electric all-terrain powersports company, today announced the price of its initial public offering of 3,025,000 common shares at a price of public offer of $ 5.50. The gross proceeds of the offer are expected to be approximately $ 16.6 million before deduction of subscription discounts, commissions and offering costs. The offer is expected to close on October 8, 2021, subject to the satisfaction of the usual closing conditions.

In addition, the Company granted Aegis Capital Corp. a 45-day option to purchase up to 226,875 additional common shares at the public offering price to cover over-allotments, if any. If this option were exercised in full, the gross proceeds of the offer would be approximately $ 17.9 million before deduction of subscription discounts, commissions and offering costs. The common stock is expected to begin trading on the Nasdaq Capital Market on October 6, 2021, under the symbol “VLCN.”

Aegis Capital Corp. acts as the only accounting manager of the offer.

A registration statement on Form S-1 relating to the common shares sold under this offering was declared effective by the Securities and Exchange Commission (the “SEC”) on October 5, 2021. The offer is made only by means of a prospectus. Copies of the final prospectus can be obtained, when available, from the SEC’s website, www.sec.gov, or by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th Floor, New York, New York State 10019, by email at syndicat@aegiscap.com, or by phone at (212) 813-1010.

This press release does not constitute an offer to sell or a solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Volcon

Volcon Inc. is the first fully electric powersports company to produce high quality all-terrain vehicles. Situated at Round Rock, Texas, Volcon joins many large electric vehicle manufacturers near Austin, Texas, a region that is on the way to becoming the electric vehicle capital of the world.

Volcon was founded with the mission of improving the outdoor experience while reducing the industry’s environmental footprint so that adventurers and workers can enjoy the outdoors and preserve it for generations to come. Volcon produces all-electric all-terrain vehicles designed to enhance the adventure experience and help people get things done at work and at home.

Volcon’s first product, the innovative Grunt, combines a large tire with high-torque electric power and a near-silent powertrain that began shipping in September 2021. Future models include the Runt, which is a younger version. of the revolutionary Grunt. The Stag and Beast will be Volcon’s adventure in the rapidly expanding world of UTVs and will be in the years to come as the company continues to grow.

Disclaimer regarding forward-looking statements

Some of the statements contained in this press release are forward-looking statements, which involve risks and uncertainties. The forward-looking statements contained in this press release include, without limitation, the ability of the Company to close the offer. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable as of the date of their publication, the expectations may turn out to have been materially different from the results expressed or implied by these forward-looking statements. The Company has attempted to identify forward-looking statements by terminology, including ‘belief’, ”, ” intends ” ” potential ” ” ” may, ” ” might, ” ” could, ” ” will, ” ” should, ” ” approximately ” or other words that convey uncertainty of future events or results to identify such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors. All forward-looking statements contained in this press release speak only as of the date. The Company assumes no obligation to update any forward-looking statements contained in this press release to reflect events or circumstances occurring after its date or to reflect the occurrence of unforeseen events. More detailed information on the risks and uncertainties affecting the company is contained under “Risk Factors” in the company’s registration statement on Form S-1 filed with the SEC, which is available on the website SEC Web, www.sec.gov.

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SOURCE Volcon Inc.

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