# EDGAR Filing Document

**Accession Number:** 0001829794
**File Stem:** 0001683168-25-007650
**Filing Date:** 2025-10
**Character Count:** 36729
**Document Hash:** 346fc58c3c583035fcf573ef8400bb95
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683168-25-007650.hdr.sgml**: 20251020

**ACCESSION NUMBER**: 0001683168-25-007650

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 42

**CONFORMED PERIOD OF REPORT**: 20251017

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251020

**DATE AS OF CHANGE**: 20251020

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Empery Digital Inc.
- **CENTRAL INDEX KEY:** 0001829794
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 844882689
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40867
- **FILM NUMBER:** 251402424

**BUSINESS ADDRESS:**
- **STREET 1:** 3121 EAGLES NEST, SUITE 120
- **CITY:** ROUND ROCK
- **STATE:** TX
- **ZIP:** 78665
- **BUSINESS PHONE:** 512-400-4271

**MAIL ADDRESS:**
- **STREET 1:** 3121 EAGLES NEST, SUITE 120
- **CITY:** ROUND ROCK
- **STATE:** TX
- **ZIP:** 78665

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Empery Digital, Inc.
- **DATE OF NAME CHANGE:** 20250731

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Volcon, Inc.
- **DATE OF NAME CHANGE:** 20201023

?xml version='1.0' encoding='ASCII'? Empery Digital, Inc. 8-K

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**__________________________**

**FORM 8-K**

__________________________

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d)**

**of The Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): October 20, 2025 (October 17, 2025**)

__________________________

**Empery Digital Inc.**

(Exact Name of Registrant as Specified in its Charter)

__________________________

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40867** | **84-4882689** |
| (State or Other Jurisdiction<br> of Incorporation) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification Number) |

---

**3121 Eagles Nest Street, Suite 120**

**Round Rock, TX 78665**

(Address of principal executive offices and zip code)

**(512) 400-4271**

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

---

| |
|:---|
| ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>|
| ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>|
| ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>|
| ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-14(c)). |

---

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.00001 per share | EMPD | NASDAQ |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 7.01 Regulation FD Disclosure.**

On October 20, 2025, Empery Digital Inc. posted an updated version of its corporate presentation on its website, a copy of which is furnished hereto as Exhibit 99.1 to this Current Report on Form 8-K.

On October 20, 2025, the Company also issued a press release providing, among other things, an update on repurchases by the Company under the Company's stock repurchase program.

The information in this Item 7.01, including Exhibits 99.1 and 99.2 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.

**Item 8.01 Other Information.**

As of October 17, 2025, 8,139,479 shares of the Company's common stock have been repurchased by the Company under the Company's previously announced $150 million stock repurchase program at an average purchase price per share of $7.55, including all fees and commissions. Following these repurchases., approximately $89 million remains available for future repurchases under the stock repurchase program and the current number of shares outstanding is 43,280,756, including 3,913,538 pre-funded warrants.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Corporate Presentation, dated October 20, 2025](empery_ex9901.htm) |
| 99.2 | [Press Release, dated October 20, 2025](empery_ex9902.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**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.

---

| | |
|:---|:---|
|  | **Empery Digital Inc.** |
|  | (Registrant) |
| Date: October 20, 2025 | /s/ Greg Endo |
|  | Greg Endo<br> Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](image_001.jpg)

OCTOBER 2025

![](image_002.jpg)

Disclaimers Forward Looking Statement This presentation includes forward - looking statements. These forward - looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward - looking statements address various matters including the adoption and integration of Bitcoin and other digital assets by major asset managers and financial institutions, Empery Digital Inc.'s (the "Company" or "Empery Digital") plans to utilize strategic capital raises and share repurchases, the Company's ability to outperform Bitcoin over the long - term, plans to grow the Company's OEM relationships, the Company's ability to generate positive cash flow from our Empery Mobility business, the Company's plans with respect to strategic M&A, social media growth, and global expansion. Each forward - looking statement contained in this presentation is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of Bitcoin and other cryptocurrencies; the risk that the Company's stock price may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries in which the Company does and will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purpose, as well as those risks and uncertainties identified under the heading "Risk Factors" in the Company's Annual Report on Form 10 - K for the fiscal year ended December 31, 2024 and other information the Company has or may file with the U.S. Securities and Exchange Commission, including those identified under the heading "Risk Factors" in the Company's Quarterly Reports on Form 10 - Q for the three months ended March 31, 2025 and June 30, 2025. Further, past performance is not indicative of future results and Bitcoin prices are highly volatile and unpredictable. We caution investors not to place considerable reliance on the forward - looking statements contained in this presentation. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward - looking statements in this presentation speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. No Offer or Solicitation This presentation has been prepared by the Company solely for informational purposes . This presentation shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction . Market and Industry Data Certain information contained in this presentation, including industry and market data and other statistical information, relates to or is based on studies, publications, surveys and other data obtained from third - party sources and the Company's own internal estimates and research. While the Company believes these third - party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third - party sources. In addition, all of the market data included in this presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Trademarks This presentation may include references to the Company's trademarks and trademarks belonging to other entities . Solely for convenience, some of the trademarks and trade names referred to in this presentation, including logos, artwork and other visual displays, may be listed without the® or symbols, but such references are not intended to indicate in any way that the Company will not assert, to the fullest extent under applicable law, the Company's rights or the rights of the applicable licensor to these trademarks and trade names . 2

![](image_003.jpg)

3 The Bridge between Capital Markets and the Digital Asset Revolution I NVESTOR RELATIONS X Launched treasury dashboard Real - time, transparent data reporting facilitated by third - parties Managed by seasoned capital market experts Decades of experience raising capital across public markets Currently trading at discount to Net Asset Value Opportunity to acquire BTC exposure at a discount to BTC market price Support from digital asset veterans Gemini engaged as Strategic Digital Asset Service Provider Capital flywheel in place to increase Bitcoin per share Access to $1B via at - the - market equity offerings and Executing buybacks through $150M share repurchase program Top 25 Public Bitcoin Treasuries 1 Proceeds from Equity Capital Raise used to purchase BTC Number of shares repurchased at a discount to NAV Effective increase in Bitcoin per share from share repurchases EMPERY DIGITAL TREASURY DASHBOARD [1] Source: Bitcointreasuries.net as of 10/17/2025 Note: The following KPIs are current as of 10/17/2025 - Bitcoin Count, Shares Repurchased, and Bitcoin Yield Nasdaq: EMPD

![](image_004.jpg)

The Asset The Trade The Expertise The Infrastructure The Road Ahead 4

![](image_005.jpg)

The Asset The Trade The Expertise The Infrastructure The Road Ahead 5

![](image_006.jpg)

Scarce Fixed maximum supply of 21M 1 , 19.9M already mined, significant aggregate value The Asset Bitcoin's Winning Thesis 6 Global Borderless, 24/7, rapid digital transfer Decentralized Network is open to all, no central authority, just an internet connection Resilient 10+ years outperforming markets 2 , asset has become increasingly mainstream Bitcoin is the first decentralized, non - sovereign monetary alternative to gain widespread global adoption 1 Bitcoin Core Developers. (2009 – present). Bitcoin Core source code: Block subsidy and halving schedule (consensus/amount.h and validation.cpp) [C++ source code]. Bitcoin Core Repository, GitHub. 2 BlackRock Inc. (2025). Bitcoin: A unique diversifier – Why bitcoin's appeal to investors lies in its detachment from traditional risk and return drivers (p. 4)

![](image_007.jpg)

The Asset Why we Believe Bitcoin is on the Verge of Becoming Mainstream Regulatory Clarity New frameworks like the GENIUS Act, CLARITY Act , and Project Crypto are expected to establish Bitcoin's path to integration with U.S. and global financial institutions. Institutional Momentum Major asset managers like BlackRock , Fidelity , and JPMorgan are integrating Bitcoin into portfolios, ETF products, and institutional value storage. Bitcoin represents an alternative for global value storage - scarce, decentralized, and borderless - emerging at a time when traditional systems face unprecedented debt, inflation and trust challenges 7 Macro Relevance With record sovereign debt and declining trust in fiat systems, Bitcoin offers a non - sovereign, auditable store of value for individuals, institutions, and governments worldwide.

![](image_008.jpg)

$248B $65B $131B $736B $590B $323B $867B $1.9T $2.1T $7B $15B 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 The Asset Bitcoin is the Clear Winner as the Digital Store of Value 8 1 https://coincodex.com/market - cap/ 2 Source: Bloomberg. 90 - day historical volatility as of 10/17/2025. Bitcoin volatility as of 2024 is as of 10/17/2024. Bitcoin Market Cap (10 year) 1 BTC Volatility Reflects Market Maturity 2 36% 29% 30% 26% 25% 24% 16% 15% 24% Gold Silver Total Asset Size has exceeded $2.1 Trillion 2024 Current BTC Volatility has declined by 7% in the past year , more recently inline with many of the world's largest companies Note: For illustrative purposes only. Past performance is not indicative of future results.

![](image_009.jpg)

The Asset Bitcoin Provides an Uncorrelated Hedge Against Global Volatility 9 Date Event Jan. 3, 2020 U.S. - Iran Escalation Mar. 9, 2020 COVID Outbreak Nov. 3, 2020 2020 U.S. Election Challenges Feb. 21, 2022 Russia Invasion of Ukraine Mar. 9, 2023 U.S. Regional Banking Crisis Apr. 2, 2025 U.S. Global Tariff Declaration BTC Gold SPX 17% 1% 1% - 23% - 12% - 19% 19% - 1% 7% 10% 2% 0% 27% 10% - 2% 0% 4% - 5% BTC Gold SPX 26% 7% - 8% 24% 2% - 1% 131% - 1% 12% 4% 2% - 2% 25% 11% 4% 23% 6% 5% [1] BlackRock Inc. (2025). Bitcoin: A unique diversifier – Why bitcoin's appeal to investors lies in its detachment from traditional risk and return drivers (p. 6) Note: For illustrative purposes only. Past performance is not indicative of future results. BlackRock: What Makes Bitcoin Relevant? 1 10D Return 60D Return Bitcoin has consistently demonstrated resilience during periods of market stress . Initial selloffs are often followed by strong rebounds, with the asset recovering - and in many cases outperforming - as disruptive events reinforce confidence in Bitcoin's fundamentals.

![](image_010.jpg)

The Asset Feb Mar Jun Jul Aug Sep EO14178 White House order " Strengthening American Leadership in Digital Financial Technology " creates a Digital Asset Working Group and sets a pro - innovation policy baseline (self - custody, tech - neutral rules, anti - CBDC stance). FASB fair - value crypto accounting New U.S. accounting standard (ASU 2023 - 08) takes effect, requiring fair - value measurement of eligible crypto assets - removing prior impairment asymmetry and widely viewed as pro - adoption. The Regulatory Landscape has Changed GENIUS Act becomes law First national stablecoin framework passes Congress; mandates 1:1 reserves and opens issuance to banks, non - banks, and credit unions under federal/State supervision. CLARITY Act The Digital Asset Market Clarity Act of 2025 (H.R. 3633) clears the House with bipartisan votes, designed to establish a federal market - structure framework (bill currently under consideration in the U.S. Senate). White House Digital Assets Report First ever detailed U.S. federal policy/report laying out pro - innovation recommendations (stablecoins, banking access, market structure, taxation). New Hampshire HB302 Became the first U.S. State to pass strategic digital asset reserve law. Allows state treasurer to invest up to 5% of public funds into digital assets. Apr May Texas SB21 $10M+ funded reserve. State Federal Project Crypto Launched by SEC Initiative intended to establish a clearer and modernized regulatory framework for digital assets - covering custody, trading, disclosure, and innovation exemptions. Aimed at fostering growth, clarity, and investor protection in U.S. crypto markets. 401(k) Executive Order issued allowing 401(k) access to alternative assets (crypto, private equity, real estate). 2025 Jan 10

![](image_011.jpg)

The Asset Institutional BTC Adoption has Taken Shape "America's rising national debt could threaten the dollar's status as the world's reserve currency, potentially leading to decentralized assets like Bitcoin taking its place." - Larry Fink, April 2025 Morgan Stanley plans to launch crypto trading on E\*TRADE by 2026 and Morgan Stanley brokers are soon to be allowed to recommend spot Bitcoin ETF's to clients JPMorgan plans to launch Bitcoin backed loans as soon as 2026 Charles Schwab is preparing to expand crypto offerings by launching spot trading for Bitcoin and Ethereum Fidelity offers two crypto funds, one for Bitcoin and one for Ethereum allowing clients to add exposure to crypto in brokerage, trust and IRA accounts 11

![](image_012.jpg)

The Asset The Trade The Expertise The Infrastructure The Road Ahead 12

![](image_013.jpg)

The Trade Empery Digital Offers Differentiated Exposure to Bitcoin Empery will utilize strategic capital raises and share repurchases to optimize its capital structure and increase bitcoin per share to drive long - term shareholder value Empery Digital intends to outperform bitcoin over the long term and use institutional resources to protect , monetize and increase the asset Manage Capital Structure to Increase Exposure Institutional Custody Ability to Monetize Bitcoin Portfolio 13 Institutional scale offers access to cold storage on institutional custody platforms with qualified custodians and the scale to utilize a multi - custodian approach By implementing a derivatives strategy, Empery may generate cash yield on the bitcoin portfolio

![](image_014.jpg)

The Trade Strategy to Maximize Bitcoin per Share 1 Efficient Bitcoin aggregation Issue equity when market conditions allow us to raise capital at a premium to net asset value ("NAV") and repurchase shares when shares trade below NAV. Cost mitigation across all elements of the strategy and derivative overlays optimize Bitcoin per share and limit dilution. 2 Rules based Execution Framework Our operating playbook is based on clear market - driven rules. We issue, repurchase, or hold based on disciplined metrics focused on maximizing NAV per share Immediate access to incremental capital Program in place backed by committed debt facilities Scaled BTC portfolio acquired with no leverage 3 Robust Risk Management Engineered for resilience with a clean balance sheet, institutional - grade custody, and real - time, third - party KPI reporting Efficient Access to Significant capital 14

![](image_015.jpg)

OUTPUTS The Trade Value Creation Mechanism 2 3 Robust Risk Management Engineered for resilience with a clean balance sheet, institutional - grade custody, and real - time, third - party KPI reporting Rules based Execution Framework Our operating playbook is based on clear market - driven rules. We issue, repurchase, or hold based on disciplined metrics focused on maximizing NAV per share mNAV BTC Price Share Count Liquidity Financial Model Utilize ATM Repurchase Shares Purchase BTC Derivative Trading 1 15 Efficient Bitcoin aggregation Issue equity when market conditions allow us to raise capital at a premium to net asset value ("NAV") and repurchase shares when shares trade below NAV. Cost mitigation across all elements of the strategy and derivative overlays optimize Bitcoin per share and limit dilution. INPUTS

![](image_016.jpg)

The Trade Transparent and Clean Structure 2 3 Robust Risk Management Engineered for resilience with a clean balance sheet, institutional - grade custody, and real - time, third - party KPI reporting Rules based Execution Framework Our operating playbook is based on clear market - driven rules. We issue, repurchase, or hold based on disciplined BTC - per - share metrics, not headlines 1 16 Efficient Bitcoin aggregation Issue equity when market conditions allow us to raise capital at a premium to net asset value ("NAV") and repurchase shares when shares trade below NAV. Cost mitigation across all elements of the strategy and derivative overlays optimize Bitcoin per share and limit dilution.

![](image_017.jpg)

The Trade Outperforming the Price of Bitcoin $8.80 BTC Price NAV / Share 1 $106,707 +3.0% $9.35 $116,991 - 8.8% 07/21/2025 10/17/2025 Source: Bloomberg and Empery Digital internal company analysis [1] Shares outstanding reflects all common shares plus prefunded warrants 07/21/2025 10/17/2025 NAV = BTC NAV + Cash – Debt NAV per Share 1 has outperformed Bitcoin price by 3.0% since the initiation of the Bitcoin treasury strategy Note: For illustrative purposes only. Past performance is not indicative of future results. 17 - 5.8%

![](image_018.jpg)

18 The Asset The Trade The Expertise The Infrastructure The Road Ahead

![](image_019.jpg)

The Expertise Management has a Proven Track Record in Capital Markets 19 The Empery team has been executing a capital markets hedge fund strategy since mid - 2008 The Empery team has deployed capital in thousands of bespoke negotiated transactions in public companies The knowledge, expertise and relationships to navigate public markets to efficiently and cost effectively raise capital to add BTC per share Successfully managed a complex portfolio since fund inception in 2008 Hedge fund investments made through negotiated direct financings of public companies Ideally positioned to optimize the management of this large single asset portfolio Empery Asset Management has generated returns more than 22% on average per annum since inception Note: References to "Empery" and "Empery team" on this page refer to Empery Asset Management LP and its related funds. Certain members of the Company's management are or have been employed by Empery Asset Management LP and related entities.

![](image_020.jpg)

The Expertise Management has a Proven Track Record in Capital Markets Timothy Silver COO Brett Director VP of Legal - CFO of Empery Digital Inc. since June 2021, successfully completing the company's IPO and subsequent follow on equity/debt offerings - Previous experience includes roles as an advisory consultant at Marcum Berstein & Penchuk LLP and an audit and advisory partner for technology, real estate and manufacturing clients at Deloitte and Touche LLP - Received a Master in Professional Accounting and Bachelor of Business Administration from the University of Texas at Austin - Previously served in the U.S. Army / Texas National Guard and achieved the rank of Sergeant - 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 Management - Previous experience includes Lazard's M&A team covering the Consumer, Retail, and Leisure space - Received BA from Colgate University in Mathematical Economics and MBA from Columbia Business School Ryan Lane Chairman / Co - CEO - Experienced investor with decades of experience negotiating and structuring investments in direct financings for hundreds of issuers in thousands of transactions - Deep expertise across the capital structure designing bespoke structural solutions for companies across all industries - Founder and Principal of Empery Asset Management since 2008 - Previous experience includes founding a broker - dealer that raised capital for development stage public and private companies - Received BA from Franklin & Marshall College in Finance & Accounting - Seasoned attorney with 30 years of experience focused primarily on structuring, negotiating and documenting capital raising transactions, including the issuance of equity, equity - linked and debt securities in private placements and public offerings - Currently serving as General Counsel and Chief Compliance Officer at Empery Asset Management - Previous experience includes over 15 years at Schulte Roth & Zabel, LLP (now McDermott Will & Schulte LLP) advising both issuers and funds on capital market transactions and related matters - Received BA from Franklin & Marshall College in Accounting and JD from Syracuse University Greg Endo CFO 20

![](image_021.jpg)

The Expertise Best - in - class Board of Directors and Management Team Ian Read, CPA Board Member Rohan Chauhan, CFA Board Member Matthew Homer Board Member - 40 years of experience in senior management roles at Pfizer, culminating in appointment as CEO in 2010 and Chairman of the board in 2011 until 2018 and 2019, respectively - Significant milestones include the spin - off of Pfizer's Animal Healthcare vertical and formation of Allogene Therapeutics and Cerevel Therapeutics - Currently serving as a Senior Operating Executive with the Carlyle Group - Served as Chairman of the Board of DXC Technology from 2019 to 2023 - Received B.S. in Chemical Engineering from Imperial College London - 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 Hudson River Trading, GIC (Singapore's Sovereign Wealth Fund), Kepos Capital, and Credit Suisse - Earned CFA Charter in 2012 - Master's and Bachelor's degree in Engineering from The Cooper Union - Seasoned professional with operational experience across digital assets, fintech, and traditional finance - Founder & General Partner of The Venture Debt, an early - stage, fintech focused venture capital firm - Currently serves on boards of Gemini Trust Company and Standard Custody & Trust Company (a Ripple subsidiary) - Currently serves as Operating Partner at Nyca Partners - Received Master in Public Policy Degree from the Harvard Kennedy School John Kim Board Member / Co - CEO - CEO of Volcon Inc . in 2024 . Restructured company, cleared all debt, launched new products, and raised capital - Founder Super73 Inc., the World's leading electric motorbike company. Acquired by Tiger Global in 2019 - Founder of U - Life Inc., an internet enabled home appliance company in Korea. Acquired by LG Electronics - Principal designer Yahoo Search, car designer Honda Motors, brand manager Procter & Gamble - Masters in Design from Stanford University - Former US Army Paratrooper 21

![](image_022.jpg)

The Asset The Trade The Expertise The Infrastructure The Road Ahead 22

![](image_023.jpg)

The Infrastructure Real - time Data Reporting Facilitated by 3 rd Parties 23 Custodian is category leading digital asset firm • Institutional grade infrastructure tapping into liquidity from OTC providers and exchanges across the wider crypto ecosystem, facilitating best - in - class execution • Licensed and regulated qualified custodian will ensure the highest standards of security and compliance • Trusted API reporting capabilities to institutional customers Administrator • Leading third - party administrator to facilitate accurate and reliable real - time treasury reporting • Customized financial reporting ensuring accuracy and compliance at institutional level Administrator Custodian 1 Auditor Dashboard [1] Does not include custodians for BTC held as collateral for loans or derivative trading.

![](image_024.jpg)

The Infrastructure 24 Treasury Dashboard Real - Time Continuous Third - Party Verified Data pulled from custodian

![](image_025.jpg)

The Asset The Trade The Expertise The Infrastructure The Road Ahead 25

![](image_026.jpg)

The Road Ahead Future Playbook Global Expansion Building global footprint by cross listing in pro - crypto jurisdictions. Prioritizing those with high volume. 3 Tokenization Enabling on - chain access to Empery's treasury strategy via tokenized share wrappers, staking contracts, and treasury - yield derivatives. 2 Social Media Growth Scaling our social presence through organic content. The focus will be on educating those new to the crypto market and providing transparent insight into our decision - making process 1 Strategic M&A Acquiring bitcoin treasury assets at discounts to NAV to accretively add bitcoin to the portfolio. 4 26

![](image_027.jpg)

The Road Ahead Empery Mobility: Diversified Operations support BTC Treasury 27 European Expansion Strengthen our operational resilience by diversifying outside the U.S. market . Leverage preferrable EV business incentives and larger market segments 1 for electric mobility products. Vehicle Financing Tailor financing solutions for U.S. manufacturers (Golf Cart, Powersports) that provide recurring revenue and cash yield. Grow our OEM relationships with increased order volume. 2 - Wheel Division Deliver profitable electric bicycles and micro - mobility products that utilize our strategic OEM/ODM partnerships. Focus on scalable product launches that are low risk, low capital investment. EU Legacy expertise in the electric mobility space creates business opportunities to generate positive cashflow. [1] Source: Statista Market Insights (2024). "E - bike Market Revenue by Region." Europe ≈ $19.3 B vs. North America ≈ $2.2 B.https:// www.statista.com/outlook/mmo/electric - bikes/worldwide

![](image_028.jpg)

Thank you 28

## Exhibit 99.2

**Exhibit 99.2**

 ****

**Empery Digital Releases New Investor Presentation**

***Empery Digital to Participate in 2025 Maxim Growth Summit***

 ****

***Empery Digital Has Repurchased Over 8.1 Million Shares***

**AUSTIN, Texas – October 20, 2025 –** Empery Digital Inc. (NASDAQ: EMPD) (the "Company" or "Empery Digital") today announced the release of a new investor presentation, now available on the Company's website at ir.emperydigital.com. The presentation outlines the Company's approach to adopting bitcoin as a primary treasury reserve asset and details the Company's recent initiatives aimed at enhancing shareholder value by increasing net asset value per share.

Additionally, Empery Digital is excited to announce its participation in the upcoming 2025 Maxim Growth Summit, taking place from October 22nd to 23rd at The Hard Rock Hotel NYC. This prestigious event brings together industry leaders, innovators, and premier institutions to explore the latest trends and advancements across several industries. Ryan Lane, Co-CEO and Chairman of the Company will be participating in a panel titled Digital Asset Treasuries moderated by Maxim Research Analysts.

Keynote speakers include Larry Kudlow (Broadcaster, Fox News) and Christopher Ruddy (CEO, Newsmax Media). The conference will also feature roundtable discussions with CEOs from small and mid-cap companies, moderated by Maxim Research Analysts.

For more information and a complete agenda of the Maxim Growth Summit, please visit www.maximgrp.com/2025-growth-summit.

<u>Share Repurchase Program Update</u>

As of October 17, 2025, the Company has repurchased 8,139,479 shares of its common stock under its $150 million share repurchase program, at an average purchase price per share of $7.55, including all fees and commissions. Following these repurchases, approximately $89 million remains available for future repurchases and the current number of shares outstanding is 43,280,756, including 3,913,538 pre-funded warrants.

See real-time NAV Metrics and other meaningful information on our dashboard here: https://www.emperydigital.com/treasury-dashboard

Follow us on X: @EMPD_BTC

About Empery Digital Inc.

 

Empery Digital empowers progress by unlocking the transformative potential of digital asset management through blockchain. The Company employs a bitcoin treasury strategy focused on aggregating bitcoin and maximizing bitcoin per share while working to build a future where blockchain is the foundation of growth through transparency, efficiency, and accountability. As a company they apply themselves relentlessly by making disciplined decisions that drive long-term value for shareholders. For them, Bitcoin is not just another crypto format and blockchain isn't just another tool, they're fundamental drivers of progress.

About Maxim Group LLC

Maxim Group LLC is a full-service investment banking, securities and wealth management firm headquartered in New York. The independent and employee-owned firm provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales & trading, equity research and prime brokerage services. Maxim Group LLC is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) and is a member of FINRA, SIPC, and NASDAQ. To learn more about Maxim Group LLC, visit maximgrp.com.

*Forward-Looking Statements*

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including statements relating to potential future share repurchases. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of Bitcoin and other cryptocurrencies; the risk that the Company's stock price may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries in which the Company does and will operate; risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purpose, as well as those risks and uncertainties identified under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and other information the Company has or may file with the U.S. Securities and Exchange Commission, including those identified under the heading "Risk Factors" in the Company's Quarterly Reports on Form 10-Q for the three months ended March 31, 2025 and June 30, 2025.

We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

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