Business
Workhorse Group Mails Letter to Stockholders from Chief Executive Officer, Rick Dauch
Urges Stockholders to Vote “FOR” The Proposal to Increase Workhorse’s Authorized Shares Launches Website for Special Meeting with Information for Stockholders
About this update from Workhorse Group, Inc.
[{"type":"text","content":"Urges Stockholders to Vote “FOR” The Proposal to Increase Workhorse’s Authorized Shares Launches Website for Special Meeting with Information for Stockholders – www.VoteWKHS.com CINCINNATI, Aug. 03, 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 a letter to Workhorse stockholders from its CEO Rick Dauch providing context on why Workhorse stockholders should vote FOR the proposal to increase the number of authorized shares of Workhorse common stock in connection with the upcoming Special Meeting. Workhorse also launched a website in connection with the Special Meeting, which has information for stockholders regarding the proposal and how to vote: www.VoteWKHS.com. The full text of the letter being mailed to stockholders follows: Dear Fellow Workhorse Stockholders, I am reaching out so you can hear directly from me about where Workhorse is today and why we need your help to build a bridge to continued growth and long-term stockholder value creation. We are asking our stockholders to approve an increase in our authorized common stock and I am asking for you to support the future of Workhorse by voting in favor TODAY. When I joined Workhorse as CEO in August 2021, I knew there was incredible potential, but that there were also a number of legacy issues we needed to solve for first. Since then, we have transformed the business, executing a clear strategy to stabilize, fix and ultimately grow Workhorse into a viable commercial EV OEM. We have revamped our management team, bringing in industry veterans and experts to lead the Company and execute our plans. These business leaders, engineers, operational, supply chain, sales professionals, and plant management have the necessary skills and relevant expertise to develop and advance the initiatives underway across the Company. To facilitate our growth, we have revitalized our facilities, bringing manufacturing and jobs back to the Midwest. I grew up in Indiana and Michigan, and I am extremely proud of what we are building here in the heartland of the United States. In addition to our other facilities, we have completely transformed our Union City, Indiana plant into a world-class manufacturing complex that is ramping up product...