Workhorse Highlights Why Stockholders Should Vote FOR Proposal to Increase Workhorse’s Authorized Shares
17 Agosto 2023 - 3:05PM
Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”),
an American technology company focused on pioneering the transition
to zero emission commercial vehicles, today mailed an infographic
to stockholders that can be found at www.VoteWKHS.com ahead of the
Company’s stockholder webcast on August 24, 2023 and upcoming
Special Meeting on August 28, 2023.
The infographic highlights a few key questions the Company has
received regarding the proposal to increase the Workhorse’s
authorized shares of common stock, including:
Why are you seeking to
increase the authorized shares of Workhorse common
stock?
Simply put, we need to fund our
business. To do so, we need access to additional equity so we can
obtain new financing. We have been strategic in approaching our
balance sheet and financing efforts to date and with this proposal
our objective is to issue the shares we need to so we can fund the
Company’s operations.
What will Workhorse use the
additional capital for?
Workhorse plans to use these funds to
advance our commercial EV product roadmap, grow our Aero business
and invest in our facilities and other initiatives. Specifically,
we plan to use the financing toward working capital, operating
expenses and capital expenditures needs.
Upcoming Stockholder Q&A Webcast
Workhorse is holding a webcast to discuss the Special Meeting
and answer stockholder questions on August 24, 2023 at 10:00 AM ET,
with Workhorse CEO, Rick Dauch, and CFO, Bob Ginnan.
This event is an opportunity for stockholders, both large and
small, to ask questions regarding the Company’s long-term strategy,
product roadmap, financial position and the proposal to increase
the number of authorized shares of Workhorse common stock.
Workhorse stockholders can submit questions to
vote@workhorse.com by 5:00 PM ET on August 23, 2023. To access the
webcast, go to www.VoteWKHS.com. A replay will be available for two
weeks after the completion of the webcast.
VOTE TODAY TO HELP WORKHORSE BUILD A
FINANCIAL BRIDGE TO CONTINUED GROWTH AND LONG-TERM STOCKHOLDER
VALUE
The Special Meeting is scheduled to be held on August 28, 2023.
Workhorse stockholders of record at the close of business on July
10, 2023 (the “Record Date”), are entitled to vote at or in advance
of the special meeting.
Holders of a majority of ALL our shares of common stock are
required to vote in favor of this proposal for it to be approved.
Because of this, it is imperative that every stockholder who wants
Workhorse to be able to achieve the goals described above vote
their shares FOR the proposal today.
Please follow the instructions shown on the proxy card or voting
instruction form to vote your shares today. You can vote online or
by phone until 11:59 P.M. ET on August 27, 2023. Or you can sign
and mail in your proxy card.
Stockholders who have questions or need assistance voting your
shares, please contact Morrow Sodali, Workhorse’s proxy
solicitor:
Phone:
800-607-0088wkhs.info@investor.morrowsodali.com
FORWARD LOOKING STATEMENTS
This communication contains certain forward-looking statements
within the meaning of federal securities laws with respect to
Workhorse Group Inc. (the “Company”), including statements relating
to the amendment of our Articles of Incorporation in Nevada and its
potential impact on the Company’s ability to obtain financing,
build its offerings of commercial electrical vehicles, expand its
aerospace business, and capture additional avenues for growth.
Forward-looking statements are predictions, projections, and other
statements about future events based on current expectations and
assumptions and, as a result, are subject to risks and
uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: changes in voting and the
actual vote counts on the day of the annual meeting; the
availability of and need for capital; and the factors, risks and
uncertainties regarding the Company’s business described in the
“Risk Factors” section of the Company’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2022, filed with the
Securities and Exchange Commission (the “SEC”) on March 1, 2023,
the Company’s Quarterly Report on Form 10-Q for the fiscal quarter
ended March 31, 2023, filed with the SEC on May 15, 2023, and the
Company’s Quarterly Report on Form 10-Q for the fiscal quarter
ended June 30, 2023, filed with the SEC on August 14, 2023. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and, except as required by law, the Company assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Media Contact:Aaron Palash / Greg KlassenJoele
Frank, Wilkinson Brimmer Katcher212-355-4449
Investor Relations Contact:Matt Glover and Tom
ColtonGateway Investor
Relations949-574-3860WKHS@gateway-grp.com
Workhorse (NASDAQ:WKHS)
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