---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-062309"
form_type: "8-K"
ticker: "WKHS"
cik: "0001425287"
company_name: "Workhorse Group Inc."
filed_at: "2024-07-18T23:59:59+00:00"
generated_at: "2026-05-31T19:36:31.718190+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Workhorse issues $4M senior secured convertible note with 12.5% OID to institutional investor

## Summary
- Issued $4M principal note (net proceeds ~$3.5M after 12.5% OID) and warrant to buy 2,715,777 shares at $2.9260.
- Note bears 9% interest (18% on default), matures in one year, convertible at lower of $1.1783 or 87.5% of 10-day VWAP (floor $0.3708).
- This is third additional draw under March 2024 $139M facility; total issued $22.285M prior, $5.6M outstanding before this.
- Covenants require $1.5M liquidity (or $4M if sale-leaseback of Union City facility closes); senior secured guarantees from subsidiaries.

## SEC filing metadata
- accession: 0001213900-24-062309
- form_type: 8-K
- ticker: WKHS
- cik: 0001425287
- company_name: Workhorse Group Inc.
- filed_at: 2024-07-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1425287/000121390024062309/0001213900-24-062309-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1425287/000121390024062309/ea0209609-8k_workhorse.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-062309
- JSON: https://secwatch.observer/filing/0001213900-24-062309.json
- Plain text: https://secwatch.observer/filing/0001213900-24-062309.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.