Workhorse Group enters merger agreement with Motiv Power Systems

Workhorse Group Inc.

Workhorse to acquire Motiv Power Systems; post-merger Motiv investors will own ~62.5% of Workhorse.
Workhorse enters $20 million sale-leaseback of Union City facility with affiliate of Motiv's largest investor.
Workhorse issues $5 million convertible note to Motiv investor affiliate and appoints Alan Henricks to board.
Workhorse repays ~$30.9 million in 2024 notes and exchanges warrants for rights to 30% of diluted shares.
Workhorse CEO, CFO, and GC amend employment agreements to reduce change of control payments.

item 1.01item 2.01item 3.02item 5.02item 7.01item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.