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

Issuer:     Workhorse Group Inc. (WKHS)
CIK:        0001425287
Form:       8-K
Filed at:   2024-08-23T23:59:59+00:00
Accession:  0001213900-24-072013
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Workhorse issues $2.6M convertible note and warrant under existing SPA
----------------------------------------------------------------------

- Fourth Additional Note: $2.6M principal, 12.5% OID, net proceeds ~$2.275M.
- Note bears 9% interest, matures in one year; convertible at lower of $0.7193 or 87.5% of VWAP (floor $0.1586).
- Warrant to purchase up to 2,891,901 shares at $1.1101 per share, exercisable for 10 years.
- Prior Notes outstanding aggregate $6.85M as of August 22, 2024.
- Up to $110.1M additional principal available under SPA subject to conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1425287/000121390024072013/0001213900-24-072013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1425287/000121390024072013/ea0212206-8k_workhorse.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-072013

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