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Workhorse Group Inc. Closes $10.35 Million Public Offering of its Common StockLOVELAND, Ohio, Aug. 13, 2018 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS) ("WKHS" or "the Company"), an American technology company focused on changing the way the world works by providing sustainable and cost-effective transportation solutions, has closed its previously announced underwritten public offering of 9,000,000 shares of its common stock at a price of $1.15 per share. In addition, Workhorse has granted the underwriter a 45-day over-allotment option to purchase up to 1,350,000 additional shares of its common stock at the public offering price. All of the common stock was offered by the Company. National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation acted as sole book running manager for the offering. The gross proceeds from the offering, excluding the exercise of the over-allotment option, were approximately $10.35 million, excluding underwriting discounts and commissions and other offering-related expenses. Workhorse intends to use the net proceeds from the offering primarily for inventory, working capital and general corporate purposes. The prospectus supplement relating to this offering was filed with the U.S. Securities and Exchange Commission (SEC) on August 9, 2018. Copies of the final prospectus supplement and the accompanying base prospectus relating to the offering may be obtained by request to the offices of National Securities Corporation, Attn: Marguerite Rogers, Sr. Vice President, 200 Vesey St, 25th Floor, New York, NY 10281, Telephone: (21) 417-8227; Email: [email protected]; or the on the SEC's website at http://www.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted. About Workhorse Group Inc. Cautionary Note on Forward-Looking Statements Investor Relations Contact: Workhorse Media: View original content with multimedia:http://www.prnewswire.com/news-releases/workhorse-group-inc-closes-10-35-million-public-offering-of-its-common-stock-300696215.html SOURCE Workhorse Group Inc. |