Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Volcon Stock Plummets After Raising $20M Via Equity Offering At 20% Discount

  • Volcon Inc (NASDAQ:VLCN) has priced the underwritten public offering of 6.7 million shares to the public at $3 per share.
  • The issue price represents a 20.6% discount to the company’s last closing price on January 27.
  • The company expects gross proceeds from the offering to be about $20 million.
  • The company also granted the underwriter Aegis Capital Corp. a 45-day option to purchase up to 1 million additional shares.
  • The offering is expected to close on February 1, 2022.
  • Price Action: VLCN shares are trading lower by 21.2% at $2.98 on the last check Friday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.