Workhorse Group announces pricing of public offering of common stock

|About: Workhorse Group Inc. (WKHS)|By:, SA News Editor

Workhorse Group (NASDAQ:WKHS) priced its underwritten public offering of 6.5M shares of its common stock at $3.00 per share and expects the gross proceeds from this offering to be $19.5M.

The Company has granted the underwriters a 30-day option to purchase at the public offering price up to an aggregate of 975,000 additional shares of common stock to cover over-allotments, if any.

The offering is expected to close on or about February 1, 2017, subject to customary closing conditions.

Net proceeds will be utilised for working capital and general corporate purposes, including certain capital expenditures and research and development.

Oppenheimer & Co. Inc. and Cowen and Company, LLC are acting as the joint book-running managers for the offering.

Press Release

Subscribe for full text news in your inbox