secwatch.observer — SEC 8-K summary
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Issuer:     Workhorse Group Inc. (WKHS)
CIK:        0001425287
Form:       8-K
Filed at:   2024-11-27T23:59:59+00:00
Accession:  0001213900-24-103459
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Workhorse issues $2M senior secured convertible note to institutional investor; OID 12.5%
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- Issued $2,000,000 Seventh Additional Note, net proceeds $1,750,000 after 12.5% original issue discount.
- Note carries 9% interest (18% default), matures one year from November 27, 2024.
- Conversion price is lower of $0.5983 or 87.5% of 10-day VWAP, with floor of $0.2132; no warrants issued.
- Prior aggregate notes total $33.5M; $5.85M remained outstanding as of November 26, 2024.
- Up to $103.5M additional notes remain available under the Securities Purchase Agreement subject to conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1425287/000121390024103459/0001213900-24-103459-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1425287/000121390024103459/ea0222618-8k_workhouse.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-103459

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