Workhorse Encourages Stockholders To Vote FOR Long-Term Growth And Stockholder Value Creation
Portfolio Pulse from Happy Mohamed
Workhorse Group Inc. (NASDAQ:WKHS) has urged its shareholders to vote in favor of a proposal to increase the number of authorized shares of common stock. The company aims to raise additional financing to fund its operations, including working capital, operating expenses, and capital expenditures. The proposal has been recommended by independent proxy advisors ISS and Glass Lewis. A special meeting is scheduled for August 28, 2023, where the vote will take place.
August 10, 2023 | 12:38 pm
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Workhorse Group's proposal to increase authorized shares could potentially dilute existing shareholders' equity. However, the additional financing could also support the company's growth strategies.
The proposal to increase the number of authorized shares could lead to dilution of existing shareholders' equity, which might negatively impact the stock price. However, the additional financing could help the company fund its operations and growth strategies, which could potentially have a positive impact on the stock in the long term.
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