Volcon ePowersports has announced the pricing of its initial public offering of 3,025,000 shares of common stock at a public offering price of $5.50. The gross proceeds of the offering are expected to be approximately $16.6 million before deducting underwriting discounts, commissions and offering expenses. The offering is expected to close on October 8, 2021.
Previously Powersports Business reported when Volcon appointed Jordan Davis as its new CEO, and has interviewed him for its upcoming Get To Know section.
Volcon has granted Aegis Capital Corp. a 45-day option to purchase up to 226,875 additional shares of common stock at the public offering price to cover over-allotments, if any. If this option is exercised in full, the gross proceeds of the offering would be approximately $17.9 million before deducting underwriting discounts, commissions and offering expenses.
Aegis Capital Corp. is acting as the sole book-running manager for the offering.
Have you looked into Volcon’s Runt or Grunt machines yet? If you have let us know your thoughts on them in the comments section!