---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-121720"
form_type: "8-K"
ticker: "WKHS"
cik: "0001425287"
company_name: "Workhorse Group Inc."
filed_at: "2025-12-15T23:59:59+00:00"
generated_at: "2026-05-16T13:11:44.936786+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Workhorse closes Motiv merger; new CEO, $50M debt, and 1-for-12 reverse split take effect Dec 15

## Summary
- Merger consummated: Motiv becomes indirect wholly-owned subsidiary; 6,629,800 shares issued to MGMH, which gains control of Workhorse.
- Scott Griffith appointed CEO; former CEO Richard Dauch and four other directors resign; board reduced to seven members.
- Entered up to $50M in debt financing: $40M customer order credit and $10M cash flow line, both maturing Dec 15, 2028, at SOFR+5.00%.
- Redeemed 2024 Notes: paid ~$18.3M to note holders; 2024 Warrants exchanged for rights to acquire 1,193,364 shares of common stock.
- 1-for-12 reverse stock split of common stock effected; Nasdaq listing and ticker 'WKHS' unchanged.

## SEC filing metadata
- accession: 0001213900-25-121720
- form_type: 8-K
- ticker: WKHS
- cik: 0001425287
- company_name: Workhorse Group Inc.
- filed_at: 2025-12-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 3.02, 2.01, 5.02, 2.03, 3.03, 5.01, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1425287/000121390025121720/0001213900-25-121720-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1425287/000121390025121720/ea0269008-8k_workhorse.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-121720
- JSON: https://secwatch.observer/filing/0001213900-25-121720.json
- Plain text: https://secwatch.observer/filing/0001213900-25-121720.txt

## Source-grounded claims
- claim_id: 479cb057220577df69ee96b3526844637b5f206e
  claim: Workhorse Group Inc. incurred credit facility of up to $10 million with MGMH at term SOFR plus an applicable margin of 5.00% maturing December 15, 2028.
  evidence_excerpt: The Cash Flow Credit Agreement provides Workhorse with a line of credit with borrowing capacity of up to $10 million to fund its working capital requirements
  evidence_url: https://www.sec.gov/Archives/edgar/data/1425287/000121390025121720/0001213900-25-121720-index.htm
- claim_id: 50bf1e536b3cf108d390bd5db5d34e69b24ba60b
  claim: Workhorse Group Inc. incurred credit facility of up to $40 million with MGMH at term SOFR plus an applicable margin of 5.00% maturing December 15, 2028.
  evidence_excerpt: The Customer Order Credit Agreement provides Workhorse with up to $40 million to fund vehicle manufacturing in connection with Qualified Purchase Orders
  evidence_url: https://www.sec.gov/Archives/edgar/data/1425287/000121390025121720/0001213900-25-121720-index.htm
- claim_id: e1ad0934763a77040a9cdd99cb5568d658a778b2
  claim: Workhorse Group Inc.: Board adopted Third Amended and Restated Bylaws to opt out of Control Share Act and add exclusive forum provision.
  evidence_excerpt: adopted the Third Amended and Restated Bylaws of Workhorse (the “A&R Bylaws”) to (i) opt out of Sections 78.378 to 78.3793, inclusive, of the Nevada Revised Statutes (the “Control Share Act”), and (ii) add an exclusive forum provision.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1425287/000121390025121720/0001213900-25-121720-index.htm
- claim_id: 116e9d8e2e370c8768867d1866529c7c9b105877
  claim: Workhorse Group Inc. completed an acquisition involving Motiv Power Systems, Inc. (closed 2025-12-15).
  evidence_excerpt: On December 15, 2025 (the “Closing Date”), Workhorse Group Inc., a Nevada corporation (“Workhorse” or the “Company”), consummated the previously announced merger pursuant to the Agreement and Plan of Merger
  evidence_url: https://www.sec.gov/Archives/edgar/data/1425287/000121390025121720/0001213900-25-121720-index.htm

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