secwatch.observer — SEC 8-K summary
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Issuer:     Workhorse Group Inc. (WKHS)
CIK:        0001425287
Form:       8-K
Filed at:   2023-12-12T23:59:59+00:00
Accession:  0001213900-23-094900
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Workhorse Group enters $20M convertible note and $50M equity line agreements
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- Issued $20M green senior secured convertible note to High Trail Special Situations, 12.5% OID for $17.5M net proceeds, convertible at $0.5178/share.
- Warrant to purchase 25,601,639 shares at 115% of Nasdaq Minimum Price, three-year term.
- Entered $50M equity purchase agreement with Lincoln Park Capital Fund for up to $50M in common stock sales over 24 months.
- Note requires minimum cash: $25M by Dec 31, 2023; $13.5M by Jan 31, 2024; $20M by Feb 29, 2024.
- Lincoln Park agreement includes 3,775,105 commitment shares; regular purchases at 97.5% of lowest sale price with daily purchase caps.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1425287/000121390023094900/0001213900-23-094900-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1425287/000121390023094900/ea189895-8k_workhorse.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-094900

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