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Volcon purchased 280.14 bitcoins for the first time and completed more than $500 million in private financing to purchase bitcoins
Odaily News According to NLNico, Volcon, a US-listed electric car company, announced its first purchase of 280.14 bitcoins and has completed more than $500 million in private financing to support its bitcoin purchase plan.
It is reported that the company has reached an agreement with several institutions and qualified investors to privately issue 50,142,851 common shares at a price of $10 per share, and it is expected to raise more than $500 million after deducting expenses. The financing was led by Empery, and the participating parties included FalconX, Pantera, Borderless, RK Capital, Relayer Capital and other crypto venture capital companies and traditional financial institutions. Volcon has previously announced the adoption of Bitcoin financial strategy and included it in the companys reserve asset allocation.
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