Business
Workhorse Encourages Stockholders to Vote FOR Long-term Growth and Stockholder Value Creation
Encourages Stockholders to Follow ISS and Glass Lewis’ Recommendations to vote “FOR” Proposal to Increase Workhorse’s Authorized Shares CINCINNATI, Aug. 10,
About this update from Workhorse Group, Inc.
[{"type":"text","content":"Encourages Stockholders to Follow ISS and Glass Lewis’ Recommendations to vote “FOR” Proposal to Increase Workhorse’s Authorized Shares\nCINCINNATI, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”), an American technology company focused on pioneering the transition to zero emission commercial vehicles, today mailed an infographic to shareholders that can be found at www.VoteWKHS.com ahead of the upcoming Special Meeting on August 28, 2023. The Company issued the following statement: We are executing a clear strategy to stabilize, fix and ultimately grow Workhorse, and our earnings report this week demonstrated the important progress we are making. That said, we need to raise additional financing and to do so, we need our stockholders to vote FOR the proposal to increase the number of authorized shares of common stock. Our objective is to issue the shares we need to so we can fund the Company’s operations; specifically, working capital, operating expenses, and capital expenditures. We encourage our stockholders to follow the recommendations of leading independent proxy advisors ISS and Glass Lewis, who both recommend that stockholders vote “FOR” the proposal. With your vote FOR, we can build a bridge to long-term growth and stockholder value creation, as we continue advancing our commercial EV roadmap, growing our Aero business and investing in our facilities and other initiatives. VOTE TODAY TO HELP WORKHORSE INVEST AND EXECUTE ON ITS GROWTH STRATEGIES The Special Meeting is scheduled to be held on August 28, 2023. Workhorse stockholders of record at the close of business on July 10, 2023 (the “Record Date”), are entitled to vote at or in advance of the special meeting. Holders of a majority of ALL our shares of common stock are required to vote in favor of this proposal for it to be approved. Because of this, it is imperative that every stockholder who wants Workhorse to be able to achieve the goals described above vote their shares FOR the proposal today. Please follow the instructions shown on the proxy card or voting instruction form to vote your shares today. You can vote online or by phone until 11:59 P.M. ET on August 27, 2023. Or you can sign and mail in your proxy card. Stockholders who have questions or need assistance voting your shares, please contact Morrow Sodali...