Workhorse Group Mails Letter to Stockholders from Chief Executive Officer, Rick Dauch; Urges Stockholders To Vote "FOR" The Proposal To Increase Workhorse's Authorized Shares
Portfolio Pulse from Happy Mohamed
Workhorse Group Inc. (NASDAQ:WKHS) CEO, Rick Dauch, has sent a letter to stockholders urging them to vote in favor of a proposal to increase the number of authorized shares of Workhorse common stock. The company has also launched a website for the upcoming Special Meeting, providing information on the proposal and voting process. The move is part of the company's strategy to secure necessary financial resources for its next phase of production and profitable growth.
August 04, 2023 | 1:19 pm
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Workhorse Group is seeking stockholder approval to increase the number of authorized shares, which could dilute existing shareholders but provide necessary capital for future growth.
The proposal to increase the number of authorized shares could lead to dilution of existing shareholders' stake in the company. However, it could also provide the company with the necessary capital to fund its growth plans. The impact on the stock price could be neutral in the short term as the potential dilution could be offset by the prospects of future growth.
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