Volcon Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM
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CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 30, 2025 (
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On April 24, 2025, Volcon, Inc. (the “Company”) entered into an Amended and Restated Supplier Agreement (the “Agreement”) with Venom-EV (“Venom”), which amends and restates the Supplier Agreement entered into on February 25, 2025. Pursuant to the terms of the Agreement, the Venom appointed the Company to act as Venom’s supply representative for Venom’s gold carts (the “Products”) of the Products to the Buyer during the term of Agreement. Pursuant to the Agreement, the Company will purchase Products, as determined by Venom, from the manufacturer of the Products, of up to $2.0 million in purchases (the “Purchase Limit”). Payment terms for Products will be net 100 days from the earlier of: (i) date the Products leave the manufacturer’s facility or upon the sale of the Products, and once payment for Products is received by the Company, Venom may place additional purchase orders for up to the Purchase Limit. Pursuant to the Agreement, Venom will pay 5% of the order price to the Company, payable with the repayment for the Products.
Pursuant to the Agreement, Venom will be responsible for all shipping costs, tariffs, duties and fees to import the Products, which shall be paid within 10 days, and will be responsible for any product liability claims resulting from the use of the Products by the end user. In addition, Venom will be responsible for all documentation needed for sale of Products and shall be responsible for the warranty to be provided with respect to the Products sold by Venom.
The term of the Agreement is for one year, which can be extended for additional one-year periods by the parties. The Agreement may be terminated immediately by either party in the event of a breach of the Agreement by the other party, or by either party if the other party: (i) becomes insolvent or bankrupt, becomes unable to pay its debts as they fall due, or files a petition for voluntary or involuntary bankruptcy or under any other insolvency law; (ii) makes or seeks to make a general assignment for the benefit of its creditors, seeks reorganization, winding-up, liquidation, dissolution, or other similar relief with respect to it or its debts; or (iii) applies for, or consents to, the appointment of a trustee, receiver, or custodian for a substantial part of its property.
The foregoing description of the Agreement is not complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Exhibit Description | |
| 10.1 | Amended and Restated Supplier Agreement, dated April 24, 2025, by and between Volcon, Inc. and Venom-EV | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Volcon, Inc. | |
| (Registrant) | |
| Date: April 30, 2025 | /s/ Greg Endo |
| Greg Endo Chief Financial Officer |
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