Workhorse Group Faces Nasdaq Delisting Concerns

TL;DR

Workhorse might get kicked off Nasdaq - big trouble ahead.

AI Summary

Workhorse Group Inc. filed an 8-K on October 3, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company's common stock was previously listed on the Nasdaq Capital Market, but it is now facing potential delisting due to not meeting certain requirements.

Why It Matters

This filing indicates potential delisting from a major stock exchange, which could significantly impact the company's liquidity, investor confidence, and ability to raise capital.

Risk Assessment

Risk Level: high — Potential delisting from a major exchange like Nasdaq poses a significant threat to the company's financial stability and investor confidence.

Key Players & Entities

• Workhorse Group Inc. (company) — Registrant
• Nasdaq Capital Market (company) — Stock Exchange
• October 2, 2024 (date) — Earliest event reported
• October 3, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share WKHS The Nasdaq
• $1.00 — Company's common stock has fallen below $1.00 per share for 30 consecutive trading da
• $1.00 M — ny was no longer in compliance with the $1.00 Minimum Bid Price requirement set forth i

Filing Documents

• ea0216608-8k_workhorse.htm (8-K) — 34KB
• 0001213900-24-084741.txt ( ) — 204KB
• wkhs-20241002.xsd (EX-101.SCH) — 3KB
• wkhs-20241002_lab.xml (EX-101.LAB) — 33KB
• wkhs-20241002_pre.xml (EX-101.PRE) — 22KB
• ea0216608-8k_workhorse_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On October 2, 2024, Workhorse Group Inc. (the "Company") received a written notice (the "Notice") from the Listing Qualifications Department of Nasdaq Stock Market ("Nasdaq") indicating that, because the closing bid price for the Company's common stock has fallen below $1.00 per share for 30 consecutive trading days, the Company was no longer in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the "Bid Price Requirement"). The Notice has no immediate effect on the listing of the Company's common stock on The Nasdaq Capital Market and does not affect the Company's reporting requirements with the Securities and Exchange Commission. Pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has been provided with a compliance period of 180 calendar days, or until March 31, 2025, to regain compliance with the Bid Price Requirement (the "Initial Compliance Period"). To regain compliance with the Bid Price Requirement, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive trading days prior to March 31, 2025. If the Company does not regain compliance by March 31, 2025, the Company may be eligible for an additional grace period. To qualify, the Company must, as of the final day of the Initial Compliance Period, meet the applicable market value of publicly held shares requirement for continued listing and all other applicable standards for initial listing on the Capital Market (except the Bid Price Requirement) based on the Company's most recent public filings and market information and must notify Nasdaq of its intent to cure this deficiency. If the Company meets these requirements, the Nasdaq staff would be expected to grant an additional 180 calendar days for the Company to regain compl

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: October 2, 2024 By: /s/ James D. Harrington Name: Title: James D. Harrington General Counsel, Chief Compliance Officer and Secretary 2

View Full Filing

View this 8-K filing on SEC EDGAR