EV Battery Company Workinghorse Announces Public Stock Offering
Workhorse Group, Inc. a U.S. – based original equipment manufacturer of medium duty EPA-approved battery-electric delivery vehicles and fully integrated truck-launched, FAA compliant unmanned aerial systems (UAS) delivery drones, has announced the pricing of its underwritten public offering of 6,500,000 shares of its common stock, offered at a price to the public of $3.00 per share.
Workhorse expects the gross proceeds from this offering to be $19,500,000, before deducting the underwriting discount and other estimated offering expenses payable by Workhorse.
The offering is expected to close on or about February 1, 2017, subject to customary closing conditions. Workhorse anticipates using the net proceeds from the proposed offering for working capital and general corporate purposes, including certain capital expenditures and research and development.
Workhorse trucks have historically been sold to the largest fleets in the USA and Canada for last-mile delivery and related uses.
Category: Commercial
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