secwatch.observer — SEC 8-K summary
======================================

Issuer:     Workhorse Group Inc. (WKHS)
CIK:        0001425287
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0001213900-24-008552
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Workhorse enters sale-leaseback of Union City facility for ~$34.5M with 20-year lease
--------------------------------------------------------------------------------

- Purchase price approx. $34.5M for Union City, IN manufacturing campus; buyer William Repny LLC.
- Leaseback with initial 20-year term, base annual rent of ~$3.375M, escalating 3% annually.
- Closing contingent on purchaser's due diligence and financing; no assurance transaction closes.
- Proceeds to be used for general corporate purposes; Workhorse retains manufacturing equipment and fixtures.
- Option to include additional parcel (Battery Storage Property) for total purchase of $39M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1425287/000121390024008552/0001213900-24-008552-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1425287/000121390024008552/ea192574-8k_workhorse.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-008552

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer