Business
Workhorse Group Announces Filing of Definitive Proxy Statement in Connection with Special Meeting of Stockholders
Urges Stockholders to Vote “FOR” The Proposal to Increase Workhorse’s Authorized Shares CINCINNATI, July 25, 2023 (GLOBE NEWSWIRE) -- Workhorse Group Inc.
About this update from Workhorse Group, Inc.
[{"type":"text","content":"Urges Stockholders to Vote “FOR” The Proposal to Increase Workhorse’s Authorized Shares\nCINCINNATI, July 25, 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 the filing of a definitive proxy statement with the U.S. Securities and Exchange Commission in connection with its upcoming Special Meeting of Stockholders (the “Special Meeting”). The Special Meeting is being held for stockholders to vote on increasing the number of authorized shares of Workhorse common stock. “Over the last two years, we have made important progress rebuilding Workhorse. Today, we are a differentiated commercial EV and drone company with a clear product roadmap, modernized manufacturing facilities and a path to long-term stockholder value creation,” said Workhorse CEO Rick Dauch. “Along with advancing our product roadmap, we are taking steps to ensure we have the financial resources to achieve our goals. From a position of strength, we are evaluating a range of options to determine the best path forward to fund our next phase of production and growth. As part of these efforts, we need the flexibility to issue more shares of our stock. We are therefore asking stockholders to help us build a financial bridge to continued growth and long-term stockholder value by voting FOR the proposal to increase the number of authorized shares of Workhorse common stock.” In connection with the filing of the definitive proxy statement, Workhorse mailed a letter to stockholders that can be found here. Information About the Special Meeting and How to Vote The Special Meeting will be held virtually on August 28, 2023 at 10:30 a.m. Eastern Time. Workhorse stockholders of record at the close of business on July 10, 2023 are entitled to vote at or in advance of the Special Meeting. The Workhorse Board of Directors unanimously recommends that stockholders vote “FOR” the proposal. 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. Phone: [email protected] About Workhorse Group Inc.Workhorse is a technology company f...