Workhorse Boosts Cash Flow Credit by $10M to $30M, Issues Warrants
WKHS sits 23% above its 52-week low of $2.31.
Summary
Workhorse Group amended its credit agreements, increasing its cash flow facility by $10 million to a total of $30 million and deferring interest on the new portion. Concurrently, its customer order facility was reduced by $10 million to $20 million, and the company will issue warrants as consideration. This critical financing move follows an 8-K filed earlier today and comes as Workhorse faces a 'going concern' warning and reported just $600,000 in cash as of Q1 2026. The additional $10 million provides much-needed liquidity to support operations, but the future issuance of warrants will result in shareholder dilution.
At the time of this announcement, WKHS was trading at $2.83 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $30.8M. The 52-week trading range was $2.31 to $67.32. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Wiseek News.