Current Report Filing (8-k)
December 06 2018 - 5:02PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
December 4, 2018
WORKHORSE GROUP INC.
(Exact name of registrant as specified in its
charter)
Nevada
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000-53704
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26-1394771
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification Number)
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100 Commerce Drive, Loveland, Ohio 45140
(Address of principal executive offices) (zip
code)
513-297-3640
(Registrant's telephone number, including area
code)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
☐ Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange
Act of 1934.
☐
Emerging
growth company
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act.
☐
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.
On December 4, 2018, Workhorse
Group Inc. (the “Company”) received a notice from the Listing Qualifications Department of the NASDAQ Stock Market
indicating that, for the last 30 consecutive business days, the bid price for the Company’s common stock had closed below
the minimum $1.00 per share required for continued inclusion on The NASDAQ Capital Market under NASDAQ Listing Rule 5550(a)(2).
The notification letter states that pursuant to NASDAQ Listing Rule 5810(c)(3)(A) the Company will be afforded 180 calendar days,
or until June 3, 2019, to regain compliance with the minimum bid price requirement. In order to regain compliance, shares of the
Company’s common stock must maintain a minimum bid closing price of at least $1.00 per share for a minimum of ten consecutive
business days. If the Company does not regain compliance by June 3, 2019, NASDAQ may provide written notification to the Company
that the Company’s common stock will be delisted. At that time, the Company may appeal NASDAQ’s delisting determination
to a NASDAQ Listing Qualifications Panel. Alternatively, the Company may be eligible for an additional 180 day grace period if
it satisfies all of the requirements, other than the minimum bid price requirement, for listing on The NASDAQ Capital Market set
forth in NASDAQ Listing Rule 5505.
The notification letter
has no effect at this time on the listing of the Company’s common stock on The NASDAQ Capital Market and the Company will
continue to trade on The NASDAQ Capital Market under the symbol “WKHS”.
The Company intends to
actively monitor the bid price for its common stock between now and June 3, 2019 and will consider available options to resolve
the deficiency and regain compliance with the minimum bid price requirement.
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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WORKHORSE GROUP INC.
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Date: December 6, 2018
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By:
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/s/ Paul Gaitan
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Name:
Title:
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Paul Gaitan
Chief Financial Officer
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