Brief: Volcon Inc Entered Into A Factoring Agreement With Prestige Capital Finance, Llc
12/10/2023 22:21
Oct 12 (Reuters) - Volcon Inc VLCN.O :
* VOLCON INC - ON OCTOBER 6, ENTERED INTO A FACTORING
AGREEMENT
WITH PRESTIGE CAPITAL FINANCE, LLC
* VOLCON INC - PRESTIGE WILL PAY COMPANY 80% OF COMPANY'S
ELIGIBLE
US POWERSPORT DEALER INVOICE VALUES IMMEDIATELY
* VOLCON INC - REMAINING 20% OF INVOICE AMOUNT, LESS FEES,
WILL BE
PAID TO COMPANY UPON COLLECTION BY PRESTIGE
* VOLCON INC - INITIAL AVAILABILITY UNDER AGREEMENT WILL BE
$6
MILLION AND CAN BE INCREASED TO SUPPORT FUTURE EXPECTED
INCREASED SALES
Further company coverage: VLCN.O
((Reuters.Briefs@thomsonreuters.com;))
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