Business
Workhorse Highlights Why Stockholders Should Vote FOR Proposal to Increase Workhorse’s Authorized Shares
CINCINNATI, Aug. 17, 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. 17, 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 stockholders that can be found at www.VoteWKHS.com ahead of the Company’s stockholder webcast on August 24, 2023 and upcoming Special Meeting on August 28, 2023. The infographic highlights a few key questions the Company has received regarding the proposal to increase the Workhorse’s authorized shares of common stock, including: Why are you seeking to increase the authorized shares of Workhorse common stock? Simply put, we need to fund our business. To do so, we need access to additional equity so we can obtain new financing. We have been strategic in approaching our balance sheet and financing efforts to date and with this proposal our objective is to issue the shares we need to so we can fund the Company’s operations. What will Workhorse use the additional capital for? Workhorse plans to use these funds to advance our commercial EV product roadmap, grow our Aero business and invest in our facilities and other initiatives. Specifically, we plan to use the financing toward working capital, operating expenses and capital expenditures needs. Upcoming Stockholder Q&A Webcast Workhorse is holding a webcast to discuss the Special Meeting and answer stockholder questions on August 24, 2023 at 10:00 AM ET, with Workhorse CEO, Rick Dauch, and CFO, Bob Ginnan. This event is an opportunity for stockholders, both large and small, to ask questions regarding the Company’s long-term strategy, product roadmap, financial position and the proposal to increase the number of authorized shares of Workhorse common stock. Workhorse stockholders can submit questions to [email protected] by 5:00 PM ET on August 23, 2023. To access the webcast, go to www.VoteWKHS.com. A replay will be available for two weeks after the completion of the webcast. VOTE TODAY TO HELP WORKHORSE BUILD A FINANCIAL BRIDGE TO CONTINUED GROWTH AND LONG-TERM STOCKHOLDER VALUE 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 ...