Volcon Announces Over $500 Million Private Placement to Initiate Bitcoin Treasury Strategy

Ropes & Gray represented Volcon, an all-electric power sports company, in a private placement of common stock with institutional and accredited investors, raising over $500 million. The closing is expected around July 21, 2025, subject to customary conditions. Volcon plans to use at least 95% of the proceeds to acquire Bitcoin as its primary treasury reserve asset. The transaction was announced in a July 17 press release.

Based in the Austin, Texas area, Volcon was founded as the first all-electric power sports company sourcing high-quality and sustainable electric vehicles for the outdoor community.

The Ropes & Gray team was led by capital markets partner and co-lead of the crypto and blockchain task force Christopher Capuzzi, capital markets partner Michael Littenberg, and asset management partner and co-lead of the crypto and blockchain task force Melissa Bender. The team also included executive compensation & employee benefits partner Ellen Sueda, IP transactions counsel Joshua Jackson, and strategic transactions associate Sam Tansley.