Workhorse Group recommend shareholders vote ‘FOR’ Motiv transaction

Workhorse Group (WKHS) recommended shareholders vote FOR the previously announced transaction with Motiv Electric Truck. Workhorse mailed the following letter to shareholders: “By combining with Motiv, we will be poised to deliver long-term shareholder value. Together, we will have: A platform for scalable growth… Enhanced scale that will reduce unit costs… Access to complementary blue-chip customer bases… A strong financial foundation to fuel growth and margin expansion… Compelling synergy opportunities… In short, we believe Motiv is the right partner to support the advancement of our combined product roadmap and capture new growth opportunities in the over $23 billion medium-duty trucking market for the benefit of our shareholders… Through the advancements of our product roadmap and actions to extend our financial runway, Workhorse has been resilient in a challenging period for the industry. Combining with Motiv is an important next step in our journey. Together, we will create a broader product offering, strengthen our financial position and create long-term shareholder value.”