Share Repurchase Program Update: Empery Digital has repurchased 363,395 shares of its common stock under a $100 million program, leaving approximately $97 million available for future repurchases.
Bitcoin Holdings Increase: The company acquired an additional 12.97 BTC for $1.5 million, bringing its total holdings to approximately 4,065 BTC, purchased at an average price of $117,549 per BTC.
Capital Allocation Strategy: Management plans to continue share repurchases below net asset value (NAV) and has access to $25 million in capacity along with an additional $75 million through borrowing.
Company Background: Empery Digital, previously known as Volcon, aims to be a leading aggregator of bitcoin while also operating under the brand Empery Mobility, focusing on sustainable electric vehicles for outdoor activities.
Empery Digital Inc., formerly Volcon, Inc., is focused on the bitcoin treasury strategy with the goal of becoming a global aggregator of bitcoin. The Company holds approximately 4,018.36 Bitcoin (BTC). The Company is also engaged in the electric off-road power sports business. The Company sells Volcon electric two-wheeled E-Bikes and motorcycles, utility terrain vehicles, or UTVs, also known as side-by-sides, and golf carts, along with a line of upgrades and accessories. The Company's products include HF1, MN1, and Brat. The HF1 is Volcon's premier performance UTV. The VLCN MN1 has two models: the MN1 Adventurer, a golf cart-style product, which has four seats with a fold-down rear seat to accommodate light cargo, and the MN1 Tradesman, which has two seats with a dump bed for utility purposes. The Brat is a class 2 E-Bike and can be used on-road or off-road.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
