Empery Digital Inc. — Director's Dealing 2024

Aug 6, 2024

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Volcon, Inc. (VLCN)
CIK: 0001829794
Period of Report: 2024-08-01

Reporting Person: SABBY MANAGEMENT, LLC (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	477543	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Pre-Funded Warrant $0.00001 Strike	$0	2034-07-11	Common Stock (656836)		Indirect
Warrant $29.00 Strike	$29	2029-11-23	Common Stock (44490)		Indirect

Footnotes

F1: This Form 3 is being filed by Sabby Volatility Warrant Master Fund, Ltd. ("SVWMF"), Sabby Management, LLC ("Advisor") and Hal Mintz. Advisor is the investment manager of SVWMF. Mr. Mintz is the manager of Advisor.

F2: The amount reported herein reflects the entire amount of Issuer's securities held by SVWMF as of August 1, 2024. Each of Advisor and Mr. Mintz disclaims, for purposes of Section 16 of the Securities Exchange Act of 1934 ("Section 16"), beneficial ownership of such securities, except to the extent of its/his indirect pecuniary interest therein, and this report shall not be deemed an admission that either Advisor or Mr. Mintz is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F3: The exercise of this security into shares is subject to a blocker, and the holder is not allowed to exercise this security into shares if as a result of such exercise holder (in the aggregate with its affiliates) would own in excess of 4.99% of the outstanding shares (9.99% of the outstanding shares in the case of the Pre-Funded Warrant). As holder (in the aggregate with its affiliates) currently owns more than 9.99% of the outstanding shares, this security is not currently eligible for exercise into shares.