WKHS: Workhorse Group Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
Workhorse amended credit facilities with lender MGMH: Customer Order facility raised $20M to $30M, $10M interest payments deferred to…
What this filing says
Workhorse amended two credit agreements with its lender, Motive GM Holdings II LLC, raising the customer order facility from $20 million to $30 million. Interest on the new $10 million is deferred until after March 31, 2027, and interest on added cash flow loans is deferred on the same timeline. For shareholders, this points to more borrowing and a larger debt load, with cash interest payments pushed back rather than reduced.
Key figures
- Customer order commitment, before
- $20,000,000
- Customer order commitment, after
- $30,000,000
- Additional loan under amendments
- $10,000,000
- Interest deferral runs until
- first Interest Payment Date after March 31, 2027
Positive for shareholders
- Deferred interest payments delay cash outflows on the new borrowings.
Negative for shareholders
- The customer order facility grows by $10 million, adding to the company's debt.
- Interest on the additional loans is deferred, not waived, so it will still come due later.
- Both credit agreements are with a single lender, Motive GM Holdings II LLC.
Written by Quantisnow AI from this filing. Not financial advice.
Key terms
- Credit Agreement:
- A contract under which a lender agrees to provide borrowed money on set terms, such as limits, interest and repayment.
- Commitment:
- The maximum amount a lender has agreed to lend under a credit agreement.
- Guarantors:
- Subsidiaries that promise to repay the loan if the borrowing company cannot.
FAQ
How much did Workhorse's customer order credit commitment increase?
The commitment under the Customer Order Credit Agreement was raised from $20,000,000 to $30,000,000 through Amendment No. 3.
When do the deferred interest payments on the new loans start?
Interest on the additional $10,000,000 loans is deferred until the first Interest Payment Date occurring after March 31, 2027, under both agreements.
Historical context for WKHS
Across the 28 sessions after earlier WKHS headlines, the stock closed higher 9 times and lower 19 times, with a median move of 4.4% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | WKHS | SPY |
|---|---|---|---|
| Oct 30, 2026 | Workhorse Enters Modular AI Infrastructure Market Through Foundational TerraPod™ Partnership with UK-Based RHAELM | +15.7% | -1.8% |
| Oct 22, 2026 | Workhorse Partners with Tristan Fleet Management to Sell and Service All-electric W56 Step Vans in Canada | -1.1% | -1.2% |
| Oct 15, 2026 | Workhorse Group Sets Date for Third Quarter Earnings Release and Conference Call | -1.0% | +0.3% |
| Sep 30, 2026 | Workhorse and Gateway Fleets Build on Fleet Operator Momentum with 200-Truck Expansion | +1.0% | -0.2% |
| Aug 5, 2026 | Workhorse Reports Inducement Grant under NASDAQ Listing Rule 5635(c)(4) | +2.9% | -0.2% |
| Jul 21, 2026 | Workhorse Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4) | +0.4% | +0.8% |
- Market cap
- 30-day
- Sector
- Industrials
- Industry
- Auto Manufacturing
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