Workhorse Group Announces 1-for-12.5 Reverse Stock Split

Core Viewpoint - Workhorse Group Inc. announced a 1-for-12.5 reverse stock split to increase its common stock price and regain compliance with Nasdaq's minimum bid price requirement [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will combine every 12.5 shares of common stock into one share, effective March 17, 2025 [3]. - The reverse stock split will not change stockholders' percentage ownership interests, except for minor adjustments due to fractional shares, which will be rounded up to the nearest whole share [3][4]. - Empire Stock Transfer Inc. will act as the exchange agent and will provide stockholders with a transaction statement reflecting their new share count post-split [4]. Group 2: Compliance and Market Impact - The reverse stock split aims to help Workhorse meet Nasdaq's requirement of a closing bid price of at least $1.00 per share for ten consecutive trading days by March 31, 2025 [2]. - There is no guarantee that the reverse stock split will achieve the desired effect of increasing the stock price to comply with Nasdaq's listing requirements [2]. Group 3: Company Overview - Workhorse Group Inc. is focused on the transition to zero-emission commercial vehicles, designing and building vehicles in the U.S. for last-mile delivery and medium-duty operations [5].