Workhorse Group Inc. Files 8-K on Security Holder Rights

TL;DR

Workhorse filed an 8-K today about changes to security holder rights - check the details!

AI Summary

Workhorse Group Inc. announced on June 17, 2024, a material modification to the rights of its security holders. This filing pertains to changes affecting the rights associated with the company's securities, though specific details of the modifications are not elaborated in the provided text.

Why It Matters

Changes to security holder rights can significantly impact the value and control investors have over a company, potentially affecting stock price and future corporate actions.

Risk Assessment

Risk Level: medium — Modifications to security holder rights can introduce uncertainty and potentially negative impacts on existing shareholders.

Key Players & Entities

• Workhorse Group Inc. (company) — Registrant
• June 17, 2024 (date) — Date of earliest event reported
• Nevada (jurisdiction) — State of Incorporation
• 001-37673 (filing_id) — Commission File Number
• 26-1394771 (tax_id) — IRS Employer Identification Number
• 3600 Park 42 Drive , Suite 160E , Sharonville , Ohio 45241 (address) — Address of principal executive offices
• 1 ( 888 ) 646-5205 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share WKHS The Nasdaq

Filing Documents

• ea0207996-8k_workhorse.htm (8-K) — 33KB
• 0001213900-24-053399.txt ( ) — 203KB
• wkhs-20240617.xsd (EX-101.SCH) — 3KB
• wkhs-20240617_lab.xml (EX-101.LAB) — 33KB
• wkhs-20240617_pre.xml (EX-101.PRE) — 22KB
• ea0207996-8k_workhorse_htm.xml (XML) — 4KB

03

Item 3.03. Material Modification to Rights of Security Holders. On June 17, 2024, the previously disclosed 1-for-20 reverse split of the issued and outstanding shares of Common Stock (the "Reverse Split") of Workhorse Group Inc. (the "Company") became effective. The authorized number of shares of Common Stock was not affected by the Reverse Split. The Company adjusted the exercise price, number of shares issuable on exercise or vesting and/or other terms of its outstanding stock options, warrants, restricted stock, and restricted stock units to reflect the effects of the Reverse Split. The number of shares of Common Stock available for issuance under the Company's equity incentive plans was not affected.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains certain forward-looking statements within the meaning of federal securities laws with respect to the Company. Forward-looking statements are predictions, projections, and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: our ability to cure any deficiencies in compliance with Nasdaq's minimum bid price requirement (the "Bid Price Requirement") or maintain compliance with other Nasdaq Listing Rules; the ability of the Reverse Split to allow us to regain compliance with the Bid Price Requirement; our ability to obtain any additional relief necessary to regain compliance from Nasdaq or to meet applicable Nasdaq requirements for any such relief; and risks related to the substantial costs and diversion of personnel's attention and resources due to these matters. While we are taking actions to address our non-compliance with the Bid Price Requirement, there can be no assurance that we will regain compliance. Continued non-compliance or a delisting from Nasdaq would materially and adversely affect our ability to raise capital and our financial condition and business. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WORKHORSE GROUP INC. Date: June 17, 2024 By: /s/ James D. Harrington Name: James D. Harrington Title: General Counsel, Chief Compliance Officer and Secretary 2

View Full Filing

View this 8-K filing on SEC EDGAR