Workhorse Group Inc. 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Workhorse Group Inc. on June 4, 2018, reporting events occurring on that date. The Company is incorporated in Nevada and maintains its principal executive offices in Loveland, Ohio.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report focuses exclusively on a corporate transaction regarding equity instruments.
Material Changes
On June 4, 2018, the Company entered into privately-negotiated exchange agreements with holders of all outstanding Warrants to Purchase Common Stock issued on September 18, 2017. Under these agreements, the Company agreed to issue an aggregate of 1,968,736 shares of common stock in exchange for the surrender of the Warrants. The closing of these exchanges occurred on June 5, 2018.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies beyond the description of the warrant exchange transaction. No unusual items were reported.
Key Facts for Investor Verification
- 1,968,736 shares of common stock were issued to settle outstanding warrants.
- The transaction closed on June 5, 2018, one day after the agreement date.
- The exchange involved all outstanding warrants issued on September 18, 2017.
- The full text of the Exchange Agreement is available as Exhibit 10.1 to this filing.