Business
Workhorse Group Adjourns Special Meeting of Stockholders
CINCINNATI, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”), an American technology company focused on
About this update from Workhorse Group, Inc.
[{"type":"text","content":"CINCINNATI, Aug. 28, 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 announced that it has adjourned its Special Meeting of Stockholders scheduled for August 28, 2023, until September 1, 2023 at 8:00 a.m. Eastern Time. The Company issued the following statement: We are adjourning the Special Meeting to give Workhorse stockholders more time to vote on the proposal to increase the number of shares of Workhorse common stock. We have been extensively engaging with our stockholders over the past few weeks and appreciate the input and support from our stockholders. We look forward to continuing to engage with our stockholders to discuss the transformative progress we’ve made, the inflection point we are at and why we need their support to fund Workhorse’s next phase of execution and growth. We note that we are exploring financing options and pursuing this proposal from a position of strength. That said, if the proposal ultimately does not go through, it will limit our financing options to the detriment of our stockholders. We therefore urge stockholders to vote as soon as possible FOR the proposal so we can execute on our strategic priorities and build a bridge to long-term growth and stockholder value creation. As previously announced, leading independent proxy advisory firms ISS and Glass Lewis also recommend Workhorse stockholders vote “FOR” the proposal to increase the number of authorized shares. Workhorse stockholders of record at the close of business on July 10, 2023 (the “Record Date”), will still be entitled to vote at or in advance of the Special Meeting. Workhorse stockholders can visit www.VoteWKHS.com for additional information on the upcoming Special Meeting and proposal. As of August 28, 2023, 49.68% of Workhorse shares voted for the proposal, with 85% of all voted shares supporting the proposal. Holders of a majority of ALL shares of Workhorse 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...