Volcon, a US-listed company, plans to buy back $100 million of outstanding common stock to support an increase in net BTC per share

Nasdaq-listed Volcon announced that its Board of Directors has approved a share repurchase program that anticipates the repurchase of up to $100 million of the Company's outstanding common stock over the next 24 months to support an increase in net BTC per share. The company emphasized that share repurchases may be conducted from time to time through open market transactions (at prevailing market prices), negotiated transactions, or otherwise in accordance with federal securities laws and may modify, suspend, or terminate the share repurchase program as it deems necessary or appropriate. In addition, Volcon also announced that it has sold multiple short-term put option contracts, giving it the opportunity to buy more Bitcoin at prices of $115,000, $116,000, and $117,000, while collecting option fees to reduce the cost of holding Bitcoin.