Workhorse Group secures $3M release from lockbox from $35M convertible note

Workhorse Group Inc.

On March 7, 2025, investor consented to release $3M from lockbox tied to $35M convertible note issued Feb 12, 2025.
Funds expected to be received March 10, 2025, less fees and expenses, subject to conditions.
The lockbox release is part of prior securities purchase agreement for up to $139M in convertible notes and warrants.
Company issued Tenth Additional Note of $35M and warrant for 55M shares on Feb 12, 2025.

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