Workhorse Files Prospectus Supplement in Connection with Special Meeting
August 21 2023 - 4:19PM
Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”),
an American technology company focused on pioneering the transition
to zero emission commercial vehicles, today filed with the
Securities and Exchange Commission (“SEC”) a Prospectus Supplement
to its Registration Statement on Form S-3 in connection with the
Company’s upcoming Special Meeting scheduled for August 28, 2023.
The Company issued the following statement:
Over the last several weeks, we have
been extensively engaging with our stockholders to discuss our
proposal to increase the number of our authorized shares of common
stock so we can fund our next phase of execution and growth. The
Prospectus Supplement updates our S-3 to reflect stockholder input
and to make even clearer that we are committed to creating
stockholder value when we use it.
We are asking our stockholders to
help us build a bridge to long-term growth and stockholder value
creation. By voting FOR the proposal, stockholders can enable us to
obtain new financing to advance our commercial EV product roadmaps,
grow our Aero business and invest in our facilities and other key
initiatives.
Workhorse’s Prospectus Supplement can be found at www.sec.gov
and at www.VoteWKHS.com.
VOTE TODAY TO SUPPORT WORKHORSE’S PLAN
FOR VALUE CREATION
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 of 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 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.
Stockholders who have questions or need assistance voting your
shares, please contact Morrow Sodali, Workhorse’s proxy
solicitor:
Phone:
800-607-0088wkhs.info@investor.morrowsodali.com
Answering Stockholder Questions
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. Workhorse
stockholders can submit questions to vote@workhorse.com 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.
FORWARD LOOKING STATEMENTS
This communication contains certain forward-looking statements
within the meaning of federal securities laws with respect to
Workhorse Group Inc. (the “Company”), including statements relating
to the amendment of our Articles of Incorporation in Nevada and its
potential impact on the Company’s ability to obtain financing,
build its offerings of commercial electrical vehicles, expand its
aerospace business, and capture additional avenues for growth.
Forward-looking statements are predictions, projections, and other
statements about future events based on current expectations and
assumptions and, as a result, are subject to risks and
uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: changes in voting and the
actual vote counts on the day of the annual meeting; the
availability of and need for capital; and the factors, risks and
uncertainties regarding the Company’s business described in the
“Risk Factors” section of the Company’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2022, filed with the
Securities and Exchange Commission (the “SEC”) on March 1, 2023,
the Company’s Quarterly Report on Form 10-Q for the fiscal quarter
ended March 31, 2023, filed with the SEC on May 15, 2023, and the
Company’s Quarterly Report on Form 10-Q for the fiscal quarter
ended June 30, 2023, filed with the SEC on August 14, 2023. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and, except as required by law, the Company assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Media Contact:Aaron Palash / Greg KlassenJoele
Frank, Wilkinson Brimmer Katcher212-355-4449
Investor Relations Contact:Matt Glover and Tom
ColtonGateway Investor
Relations949-574-3860WKHS@gateway-grp.com
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