secwatch.observer — SEC 8-K summary
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Issuer:     Workhorse Group Inc. (WKHS)
CIK:        0001425287
Form:       8-K
Filed at:   2025-03-31T23:59:59+00:00
Accession:  0001013762-25-004456
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Workhorse FY2024 revenue $6.6M, net loss $101.8M; executes 1-for-12.5 reverse split
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- Sales $6.6M, down 50% YoY from $13.1M; net loss $101.8M vs $123.9M prior year.
- Completed 1-for-12.5 reverse stock split on March 17, 2025 to regain Nasdaq minimum bid compliance.
- Issued $35M convertible note to institutional investor; only $3M of net proceeds released as of March 31.
- W4 CC and W56 models approved by Transport Canada; secured order for 13 W56 extended wheelbase step vans.
- Working capital $8.2M at Dec 31, 2024, including $4.6M cash; cost reduction actions continuing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1425287/000101376225004456/0001013762-25-004456-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1425287/000101376225004456/ea0236260-8k_work.htm
  HTML page:      https://secwatch.observer/filing/0001013762-25-004456

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