Volcon Announces 1-For-8 Reverse Stock Split Effective June 11, 2025, Reducing Outstanding Shares From 4.3M To 0.54M

Volcon Inc. (NASDAQ:VLCN), ("Volcon" or the "Company"), the first all-electric, off-road powersports company, today announced that it filed an amendment to its amended and restated certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-8 reverse stock split of its common stock. The reverse stock split will take effect at 11:59 pm (Eastern Time) on June 11, 2025, and the Company's common stock will open for trading on The Nasdaq Capital Market on June 12, 2025 on a post-split basis, under the existing ticker symbol "VLCN" but with a new CUSIP number 92864V608.

As a result of the reverse stock split, every 8 shares of the Company's common stock issued and outstanding prior to the opening of trading on June 12, 2025 will be consolidated into one issued and outstanding share, with no change in the nominal par value per share of $0.00001. No fractional shares will be issued if, as a result of the reverse stock split, a stockholder would become entitled to a fractional share because the number of shares of common stock they hold before the reverse stock split is not evenly divisible by the split ratio. Instead, the stockholder will be entitled to receive a cash payment in lieu of a fractional share.

As a result of the reverse stock split, the number of shares of common stock outstanding will be reduced from approximately 4.3 million shares to approximately 0.54 million shares, and the number of authorized shares of common stock will remain at 250 million shares.