Workhorse Boosts Credit Line to $40M, Deferring Interest Amid Cash Crunch
WKHS sits 31% above its 52-week low of $2.31.
Summary
Workhorse Group increased its credit agreement commitment to $40 million on August 11, 2026, adding $10 million in borrowing capacity and deferring interest payments. This follows a June amendment that raised the facility to $30 million, and the company's Q1 10-Q flagged a going concern warning due to critically low cash. The additional liquidity provides near-term runway, but the repeated reliance on credit amendments underscores ongoing cash burn. The company also recently announced plans to enter the mobile AI data center market, which may require significant capital.
At the time of this announcement, WKHS was trading at $3.03 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $33.7M. The 52-week trading range was $2.31 to $26.40. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.