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Volcon, Inc. (NASDAQ: VLCN) is pioneering the future of off-road powersports with its all-electric vehicles. Based in Austin, Texas, Volcon designs and manufactures electric two-wheel and four-wheel motorcycles and utility terrain vehicles (UTVs) aimed at revolutionizing off-road adventuring. The company’s innovative product lineup includes the Grunt EVO, an enhanced version of the original Grunt, the Brat e-bike, and the Volcon Youth Motorcycle line, catering to younger riders. The company's flagship UTV, the Stag, offers a unique and silent off-road experience, targeting both the recreational and professional sectors.
Volcon's commitment to sustainability and innovation sets it apart as the first company in its sector to focus exclusively on electric vehicles, thus providing an eco-friendly alternative to traditional gas-powered options. The Grunt EVO, launched in October 2023, boasts a belt drive, improved suspension, and an upgraded seat. Meanwhile, the Brat e-bike, suitable for both on-road and off-road adventures, is making waves across North America.
In recent operational updates, Volcon announced a significant sales growth during the holiday season, attributed to strategic holiday promotions and consistent production improvements. The company also marked a milestone by expanding its product reach into New Zealand, indicating its growing global footprint.
However, Volcon has faced challenges, particularly with the Stag model, encountering supply chain issues. The company remains dedicated to resolving these issues to maintain the highest standards of quality and safety. Despite these hurdles, Volcon continues to deliver, with a recent milestone being the first delivery of the Stag to the United States Army Corp of Engineers for testing under a Cooperative Research and Development Agreement (CRADA).
Financially, Volcon has experienced fluctuations, including stock splits to manage its share count and investor equity. The company recently executed a 1-for-45 reverse stock split and a subsequent 1-for-100 reverse stock split to consolidate shares, aiming to stabilize its market position. Despite these financial adjustments, Volcon's focus remains on expanding its dealership network, now covering 28 states with 105 dealers, and enhancing its product lineup to meet the growing demands of off-road enthusiasts.
Volcon’s leadership, under the helm of CEO John Kim, is strategically aligned with the company's mission to lead in the off-road EV market. Kim brings a personal passion for off-road vehicles, which translates into the company’s robust marketing strategy and product development.
To stay updated on Volcon's latest developments and product offerings, follow them on social media platforms like YouTube, Facebook, Instagram, and LinkedIn, or visit their website at www.volcon.com.
Aegis Capital Corp. has successfully acted as the Sole Bookrunner for a $20 Million Underwritten Public Offering of Common Shares for Volcon, Inc. (NASDAQ: VLCN). Volcon is a pioneering all-electric powersports company based in Texas, creating high-quality off-road vehicles. The company aims to enhance outdoor experiences through innovative electric designs. Its first product, the Grunt, began shipping in September 2021, with future models like the Runt and UTVs in development. This offering will facilitate Volcon's growth and operational expansion.
Volcon Inc. (NASDAQ: VLCN) has successfully closed an underwritten public offering of 6,666,667 shares of common stock at $3.00 per share, generating approximately $20 million in gross proceeds. The underwriter, Aegis Capital Corp., has a 45-day option to purchase up to 1,000,000 additional shares, potentially increasing total proceeds to $23 million. The offering was made under an effective registration statement with the SEC, and a final prospectus is available for investors. Volcon focuses on producing all-electric, off-road vehicles and aims to enhance outdoor experiences.
Volcon Inc. (NASDAQ: VLCN) has priced an underwritten public offering of 6,666,667 shares of common stock at $3.00 per share, aiming to raise approximately $20.0 million before expenses. Aegis Capital Corp. is the sole book-running manager and has a 45-day option to purchase an additional 1,000,000 shares, potentially increasing gross proceeds to $23 million. The offering is expected to close on February 1, 2022, pending customary closing conditions, and is priced per an effective registration statement with the SEC.
Volcon Inc. (NASDAQ: VLCN), the first all-electric off-road powersports company, recently announced the signing of its 36th dealer and the addition of two industry veterans, Steven Christian and Johnny Hayes, to manage dealerships in the Southern and Northwest territories. With approximately 350 dealership applications in progress, Volcon anticipates significant growth in 2022. The company is focused on enhancing its brand and expanding its market presence as it prepares for key buying seasons.
Volcon Inc. (NASDAQ: VLCN) has appointed Stephanie Davis as Chief Operating Officer, effective January 11, 2022. With 25 years of experience in manufacturing and production from companies like Ingersoll-Rand and Bosch, Davis aims to enhance logistics and quality while implementing lean manufacturing principles. The company is ramping up production of its Grunt motorcycle, expecting to initiate direct-to-consumer shipments by Q1 2022. Volcon plans to expand its Liberty Hill, Texas facility to meet growing demand for its electric side-by-side vehicle, Stag.
Volcon Inc. (NASDAQ: VLCN) has commenced customer product deliveries to Latin America, starting with shipments to Guatemala and Paraguay. This marks a significant milestone in the company's international expansion. Following strong interest from distributors in the region, agreements were signed with multiple countries. A recent demo event in Mexico showcased the Grunt motorcycle, highlighting its features and eco-friendly design. Volcon plans to continue expanding in Latin America with new product introductions and demonstration events slated for 2022.
Volcon Inc. (NASDAQ: VLCN) has appointed Matthew Jennings as Vice President of Engineering, effective immediately. Jennings, a former Director of Electronic Hardware Engineering at Nikola, will lead engineering efforts as Volcon expands into new product categories, including four-wheeled vehicles set to launch next year. Additionally, the company has partnered with Synchrony Financial to offer consumer financing options at Volcon dealerships starting in 2022, enhancing accessibility for customers. This dual announcement aims to bolster Volcon's market position in the all-electric, off-road powersports industry.
Volcon Inc. (NASDAQ:VLCN) has announced a dealership agreement with Nash Powersports to introduce its electric powersports vehicles on the West Coast. The company aims to close 25 dealer agreements by the end of 2021 and has already onboarded 32 dealers. Additionally, Volcon received a design patent for its unique Exo-Arch Grunt frame in both the US and China. The Grunt, which began shipping in September 2021, marks Volcon's entry into the market, complemented by planned future models including the Runt, Stag, and Beast.
Volcon Inc. (NASDAQ: VLCN), an all-electric, off-road powersports company, has received over 250 dealership applications and signed six new dealers, bringing the total to 25 within three weeks of launching its dealership program. Key hires, Julio Vitti and Russ Whisler, join the product management team to drive the company's product development and roadmap. Vitti brings over 28 years of automotive experience, while Whisler specializes in powersports and e-mobility. This growth reflects Volcon's strong market interest and potential expansion into the powersports sector.
Volcon Inc. (NASDAQ: VLCN) has expanded its operations from one facility to three in Austin, Texas, gearing up for a significant year in 2022. The company is set to enter the UTV market with ambitious plans, including direct-to-consumer shipments of its Grunt motorcycle anticipated by Q1 2022. Currently employing over 50 individuals, Volcon is developing a manufacturing site in Liberty Hill, Texas, to meet growing demand for its electric vehicles. The existing campus comprises production, marketing, and warehousing facilities to support its evolving business model.
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