Recent 8-K filings for WKHS
Highest-materiality recent filing
Workhorse Group enters merger agreement with Motiv Power Systems
- 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.
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Workhorse Q1 revenue $4.3M, 21 vehicles delivered; net loss widens to $19.9M
Revenue $4.3M vs $1.1M YoY; delivered 21 vehicles vs 5 in Q1 2025.
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Workhorse Group amends credit agreements, increases cash flow facility by $10M, defers rent
Cash flow credit agreement commitment increased from $10M to $20M; customer order commitment reduced from $40M to $30M.
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Workhorse settles lawsuit with Coulomb Solutions for $4.3M, dismissal subject to final agreement
Binding settlement term sheet to resolve Coulomb Solutions v. Workhorse case No. 2:24-cv-11048 in Eastern District of Michigan.
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Workhorse Q4 revenue $9.7M (+64% YoY); full-year net loss $23.7M
Full-year 2025 revenue $21.2M (+201% YoY); pro forma combined revenue $34.0M (+149% vs $13.7M in 2024).
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Motiv Power Systems net loss of $51.6M for 2024, revenues $7.0M vs $16.9M in 2023 (down 58%).
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Integration of Motiv merger nearly complete; full enterprise systems integration planned over next 2-3 quarters.
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Motiv restates 2024 EPS on weighted share error; FY24 loss $51.6M, revenue down 58%
Restated 2024 loss per share from $74.1 to $9.4; weighted avg shares corrected to 5.47M due to omitted preferred conversion and reverse split.
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BPB dismissed as auditor effective Jan 21, 2026; CRI appointed as new independent registered public accounting firm.
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Workhorse Group sets new CEO Scott Griffith's base salary at $600,000 with 50% target bonus
Annual base salary of $600,000 approved retroactive to December 15, 2025.
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Workhorse closes Motiv merger; new CEO, $50M debt, and 1-for-12 reverse split take effect Dec 15
Merger consummated: Motiv becomes indirect wholly-owned subsidiary; 6,629,800 shares issued to MGMH, which gains control of Workhorse.
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Workhorse Group 1-for-12 reverse stock split effective December 8, 2025
Reverse split ratio of 1-for-12 became effective on December 8, 2025; authorized shares unchanged.
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Workhorse Group Announces 1-for-12 Reverse Stock Split Effective December 8, 2025
Stockholders approved reverse split on Nov 25, 2025; Board set ratio at 1-for-12.
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Workhorse shareholders approve merger with Motiv, elect directors, authorize reverse split
Shareholders approved issuance of shares for merger with Motiv Electric Trucks; transaction expected to close in weeks.
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Workhorse adjourns annual meeting to Nov 25; quorum not reached, merger vote at risk
Annual meeting adjourned to Nov 25, 2025 at 10:00 a.m. ET; quorum not achieved despite strong votes for all nine proposals.
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Workhorse Q3 revenue $2.4M, operating loss widens; merger with Motiv vote Nov 12
Q3 revenue $2.4M vs $2.5M YoY; cost of sales $10.1M includes $3.3M inventory obsolescence charge.
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Workhorse holds investor presentation on previously announced Motiv transaction
Presentation made to industry analysts on August 19, 2025, covering transactions from Aug. 15, 2025 8-K.
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Workhorse Q2 revenue $5.7M (+613% YoY) on record 32 truck shipments; announces merger with Motiv
Revenue $5.7M vs $0.8M YoY; cost of sales $13.1M, SG&A $5.8M, R&D $1.2M.
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Workhorse Group enters merger agreement with Motiv Power Systems
Workhorse to acquire Motiv Power Systems; post-merger Motiv investors will own ~62.5% of Workhorse.
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Workhorse re-enters exclusivity with private EV maker; 7-day no-shop period
New exclusivity agreement with privately held U.S. electric commercial-vehicle manufacturer runs from Aug 4 for 7 days.
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Workhorse Group (WKHS) in talks to merge with private EV maker; would issue majority stake
In discussions to merge a private electric commercial vehicle maker into a new WKHS subsidiary; target's investors would hold substantial majority of WKHS post-close.
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Workhorse Q1 sales fall 54% to $0.6M; Q2 shipments accelerate to 18 trucks
Net sales $0.6M vs $1.3M YoY, driven by Aero divestiture and lower truck sales.
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Workhorse receives investor consent to release $3M from lockbox for Tenth Additional Note
Investor consented to release $3M from lockbox account tied to $35M Tenth Additional Note issued Feb 12, 2025.
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Workhorse Group regains Nasdaq minimum bid compliance after reverse stock split
Received formal Nasdaq notice on April 2, 2025 confirming compliance with Listing Rule 5550(a)(2).
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Workhorse FY2024 revenue $6.6M, net loss $101.8M; executes 1-for-12.5 reverse split
Sales $6.6M, down 50% YoY from $13.1M; net loss $101.8M vs $123.9M prior year.
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Workhorse Group announces 1-for-12.5 reverse stock split to regain Nasdaq compliance
Reverse split at 1-for-12.5, effective March 17, 2025; trading begins that day on Nasdaq under WKHS.
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Workhorse Group secures $3M release from lockbox from $35M convertible note
On March 7, 2025, investor consented to release $3M from lockbox tied to $35M convertible note issued Feb 12, 2025.
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Workhorse W56 and W750 step vans approved for sale in Canada
Transport Canada approved W56 and W750 for import/sale via Appendix G pre-clearance program.
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Workhorse issues $35M 9% convertible note and 55M-share warrant to institutional investor
Issued $35M Tenth Additional Note (12.5% OID, net proceeds ~$30.6M before fees) and warrant to purchase 55,045,655 shares at $0.6999.
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Workhorse issues $3.5M convertible note at 9%; expects $1.5-1.8M impairment on W4 CC prepaids
Issued $3.5M senior secured note (12.5% OID) to institutional investor; proceeds ~$3.06M before fees, due in 1 year.
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Workhorse Group names Berkowitz Pollack Brant as new auditor for FY 2024
Audit committee appointed BPB as independent auditor for fiscal year ending Dec 31, 2024 on Dec 18, 2024.
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Workhorse issues $3.5M senior secured convertible note to existing investor
Issued $3.5M Eighth Additional Note (12.5% OID; net proceeds ~$3.06M) to the same institutional investor.
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Workhorse Group auditor Grant Thornton declines reappointment; material weaknesses noted
Grant Thornton notified Workhorse on Dec 3, 2024 it will not stand for reappointment as independent auditor for FY2024.
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Workhorse issues $2M senior secured convertible note to institutional investor; OID 12.5%
Issued $2,000,000 Seventh Additional Note, net proceeds $1,750,000 after 12.5% original issue discount.
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GSA contract GS-30F-RA005 under SIN 493E allows federal agencies to procure Workhorse's W56 electric commercial vehicles.
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Workhorse reports Q3 net loss of $25.1M; revenue down to $2.5M; FedEx deal progress
Revenue $2.5M vs $3.0M YoY, decrease due to non-recurrence of $2.3M sales allowance reversal.
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Workhorse reschedules Q3 earnings call to Nov 19; files Form 12b-25 for late 10-Q
Earnings call rescheduled from original date to Nov 19, 2024 at 10:00 a.m. ET; financial results issued prior.
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Workhorse issues additional $1.2M convertible note, waives warrants and lease obligations
Issued $1.2M principal senior secured convertible note (net proceeds ~$1.05M after 12.5% OID) to existing institutional investor.
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Workhorse Group receives Nasdaq delisting notice for bid price below $1.00
Nasdaq notified Workhorse on Oct 2, 2024 that its common stock bid price fell below $1.00 for 30 consecutive days, violating Listing Rule 5550(a)(2).
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Workhorse issues $3.4M convertible note with 9% interest and warrant to raise capital
Issued Fifth Additional Note for $3.4M principal, net proceeds $2.975M after 12.5% OID.
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Workhorse completes work on 15 W56 step vans, receives full payment
Workhorse completed work on 15 W56 step vans on Sept 27, 2024; vans made available for upfitter customizations.
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FedEx orders 15 Workhorse W56 step vans for 2024 delivery
FedEx (FDX) issued purchase order for 15 W56 step vans to be delivered in 2024.
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Workhorse issues $2.6M convertible note and warrant under existing SPA
Fourth Additional Note: $2.6M principal, 12.5% OID, net proceeds ~$2.275M.
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Workhorse Q2 sales drop to $0.8M, net loss widens to $26.3M; deferred revenue expected in H2
Q2 2024 sales $0.8M vs $4.0M YoY; net loss $26.3M vs $23.0M YoY; cash $5.3M at June 30.
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Workhorse reschedules Q2 2024 earnings call to August 20
Earnings call moved to Aug 20, 2024 at 11:00 AM ET; financial results issued prior.
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Workhorse issues $4M senior secured convertible note with 12.5% OID to institutional investor
Issued $4M principal note (net proceeds ~$3.5M after 12.5% OID) and warrant to buy 2,715,777 shares at $2.9260.
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Workhorse regains Nasdaq minimum bid compliance after reverse split
Nasdaq confirmed compliance with Listing Rule 5550(a)(2) on July 3, 2024.
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Workhorse Group effects 1-for-20 reverse stock split to regain Nasdaq compliance
Reverse split at 1-for-20 ratio effective June 17, 2024; authorized share count unchanged.
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Workhorse Group announces 1-for-20 reverse stock split effective June 17, 2024
Reverse split ratio 1-for-20 approved by board; effective June 17, 2024, to regain Nasdaq minimum bid price compliance.
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Workhorse completes Aero divestiture; Kingsburg orders 141 W4 CC trucks
Completed Aero divestiture to ATW Partners affiliate; expects monthly cost savings of ~$375,000.
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Workhorse issues $7M senior secured convertible note and warrant to institutional investor
On May 29, 2024 issued $7M Series A-4 Note (9% interest, 12.5% OID, one-year maturity) and warrant to purchase 40,965,618 shares.
Earnings & guidance
Materiality & sentiment trend
Max materiality 1.00 · Median 0.65 · Most common event other_material