---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-087974"
form_type: "8-K"
ticker: "WKHS"
cik: "0001425287"
company_name: "Workhorse Group Inc."
filed_at: "2024-10-16T23:59:59+00:00"
generated_at: "2026-05-30T13:39:54.179883+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Workhorse issues additional $1.2M convertible note, waives warrants and lease obligations

## Summary
- Issued $1.2M principal senior secured convertible note (net proceeds ~$1.05M after 12.5% OID) to existing institutional investor.
- Conversion price is lower of $0.5983 or 87.5% of 10-day VWAP, floor $0.1611; warrants waived for this tranche.
- Investor waived warrants on up to $14.8M future notes; company permitted ATM sales up to $5M with no price floor through Oct 16, 2025.
- Company waived affiliate's ongoing lease payments under aero business sale agreement.
- Previously $8.95M outstanding under facility; beneficial ownership cap increased to 9.99% effective Nov 4, 2024.

## SEC filing metadata
- accession: 0001213900-24-087974
- form_type: 8-K
- ticker: WKHS
- cik: 0001425287
- company_name: Workhorse Group Inc.
- filed_at: 2024-10-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1425287/000121390024087974/0001213900-24-087974-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1425287/000121390024087974/ea0217727-8k_workhorse.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-087974
- JSON: https://secwatch.observer/filing/0001213900-24-087974.json
- Plain text: https://secwatch.observer/filing/0001213900-24-087974.txt

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