Empery Digital Inc. · NASDAQ:EMPD
Empery Digital — Volcon — Investor Presentation (July 2025)
19 slides from Empery Digital's investor presentation, Jul 17, 2025
Slide 1: Project Viper Investor Presentation
1 Strictly Private & Confidential Project Viper Investor Presentation July 2025 Strictly Private & Confidential
Slide 2: Disclaimer
2 Strictly Private & Confidential Disclaimer This presentation is being delivered to a limited number of parties for discussion purposes only and shall not form the basis for or be relied on in connection with any contractually binding commitment . By accepting this presentation, each Recipient (as
Slide 3: Investment Overview / Investment Opportunity / Appendix
3 Strictly Private & Confidential I Investment Overview II Investment Opportunity III Appendix 3 Strictly Private & Confidential
Slide 4: Offering Summary
4 Strictly Private & Confidential Offering Summary • July 14 th , 2025 Expected Pricing Date • Volcon , Inc. (NASDAQ: VLCN) Issuer / Incorporation • ~$500 million Deal Size / Notional • $10.00 per share Purchase Price • ~1.07x Implied mNAV • Private Placement in Public Equity (“PIPE”) Form of Offeri
Slide 5: Attractive Entry Point into a Clean Vehicle
5 Strictly Private & Confidential Existing Investors Options (1) Attractive Entry Point into a Clean Vehicle x Attractive Entry Point: ~1.07x mNAV provides compelling entry point compared to existing shell companies working through closing processes or publicly listed entities trading higher x Clean
Slide 6: Investment Opportunity
6 Strictly Private & Confidential I Investment Overview II Investment Opportunity III Appendix 6 Strictly Private & Confidential
Slide 7: Established and Defensible Competitive Moat
7 Strictly Private & Confidential Established and Defensible Competitive Moat Scaling a preeminent capital markets team with crypto experts to form a best - in - class bitcoin treasury aggregator x Combining sophisticated institutional capital markets veterans with a category - leading digital asset
Slide 8: Fundamental Pillars Of Differentiation
8 Strictly Private & Confidential Fundamental Pillars Of Differentiation Leading Third - Party Administrator x Leading third - party administrator to facilitate accurate and reliable real - time treasury reporting x Customized financial reporting ensuring accuracy and compliance at institutional lev
Slide 9: Savvy TradFi and Digital Capital Market Experts to Drive Longterm Shareholder Value
9 Strictly Private & Confidential Savvy TradFi and Digital Capital Market Experts to Drive Longterm Shareholder Value x Seasoned executive team with best - in - class capital markets execution history and deep well of transaction experience across the capital structure x Sophisticated and refined ap
Slide 10: Experienced Management Team
10 Strictly Private & Confidential Experienced Management Team - Capital markets expert with extensive experience executing direct financings across the capital structure and establishing systems and processes for reliable fund management - Currently serving as a Portfolio Manager at Empery Asset Ma
Slide 11: Best-in-Class Board of Directors
11 Strictly Private & Confidential - Systems specialist with extensive experience designing trading systems, infrastructure, and cost models - Currently serves as Director of Strategy at Gemini - Previously held senior roles handling business development, trading strategies, and system operations at
Slide 12: Project Viper Structure Comparison
12 Strictly Private & Confidential Project Viper Reverse Merger Reverse Merger deSPAC PubCo PubCo Structure ~ ~ x x x Immediate Launch / Active Treasury Strategy × x × × x Zero Leverage × × × × x ~1x Current mNAV × × × x x ATM / Shelf Eligibility × × × x x Immediate Access to Registered Shares (curr
Slide 13: Select Comparable Digital Asset Strategies
13 Strictly Private & Confidential Company Exchange / Ticker Market Cap ($M) (1) Total Crypto Held (2) Market Cap / Crypto Holdings YTD Stock Performance NASDAQ: MSTR $109,985 597,325 1.7x 38.9% NASDAQ: CEP $11,707 37,230 2.9x 203.7% US OTC: MTPLF $7,479 13,350 5.1x 399.6% NASDAQ: KDLY $2,893 6,979
Slide 14: Why and Why Now?
14 Strictly Private & Confidential Why and Why Now? Why Now? Why Digital Asset Treasuries? ▪ ETFs and related derivative products have helped to further validate the existence of institutional interest in digital asset proxies ETF Proliferation ▪ First - movers such as MSTR, Semler Scientific, Metap
Slide 15: Unique Value Proposition of BTC Treasury Company Versus Spot ETPs
15 Strictly Private & Confidential Unique Value Proposition of BTC Treasury Company Versus Spot ETPs Crypto ETPs / ETFs Crypto - Aligned OpCo Structure × Trust company; Limited control over capital structure; Non - zero management fee x Operating company; Active control over capital structure; No ma
Slide 16: Appendix
16 Strictly Private & Confidential I Investment Overview II Investment Opportunity III Appendix 16 Strictly Private & Confidential
Slide 17: Risk Factors
17 Strictly Private & Confidential Risk Factors Investing in the Company involves a high degree of risk. Certain factors may have a material adverse effect on the business, fin ancial condition and results of operations of the Company and your potential investment in the Company. Please also refer t
Slide 18: Risk Factors (Cont.)
18 Strictly Private & Confidential Risk Factors (Cont.) Risks Related to the PIPE • The benefits of the proposed PIPE and associated transactions may not be realized to the extent currently anticipated by the Com pany, or at all. The ability to recognize any such benefits may be affected by, among o
Slide 19: International Access
19 Strictly Private & Confidential International Access (1)(2)(3) ADR ADR Dual List Method of Exposure Leading German exchange facilitating global equity and derivatives trading South Korea’s main securities and derivatives trading hub Pan - European exchange connecting markets across seven countrie