Empery Digital announces asset transfer, partnership with Venom EV

Empery Digital (EMPD) announced it has entered into an agreement with Venom EV to divest the Volcon brand in exchange for a non-dilutable 10% equity position in Venom’s reorganized Delaware corporation. Empery Digital transferred all Volcon intellectual property, brand assets, and sales networks associated with the brand other than its eBike, the Brat. The company will have the right to appoint one director to Venom’s board and will continue to finance Venom’s inventory.