Volcon Implements 1-for-8 Reverse Stock Split

Volcon Inc., an all-electric off-road powersports company, has announced a 1-for-8 reverse stock split of its common stock. This change, effective from November 8, 2024, aims to consolidate the company's shares from roughly 4.49 million to approximately 0.56 million. The nominal par value per share remains constant at $0.00001, with fractional shares rounded up.

As a result, Volcon's common stock will commence post-split trading on Nasdaq under the symbol "VLCN" with a new CUSIP number. The number of authorized shares remains at 250 million. Furthermore, shares reserved for the company's equity compensation plan will be proportionally reduced.