Workhorse Group Inc. (WKHS): Entry into a Material Definitive Agreement
Workhorse Group Inc. (WKHS) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. EX-10.1 2 projectmotor-omnibusamendm.htm EX-10.1 Document OMNIBUS AMENDMENT NO. 2 This OMNIBUS AMENDMENT NO. 2 (this “ Amendment ”), dated as of June 16, 2026, is by and among (1) WORKHORSE GROUP INC., a Nevada corporation (“ Borrower ”), (2) the Guarantors (as defined below) par
How this was made
The 30-second read
Why it matters
The amendment increases the cash-flow commitment while reducing the customer-order commitment, and requires Workhorse to issue warrants to the lender within 45 days of the amendment effective date. It also includes a specific interest-payment timing provision for a $10M loan made around the amendment date.
Market read
A primary-source credit-facility amendment can move small-cap risk perception via liquidity expectations and potential dilution, even without new operating metrics.
What to watch
Traders should focus on whether the amendment changes covenants, default triggers, or draw conditions in the underlying credit agreements (not fully included here), and on the dilution impact of the promised warrants.
Background
The 8-K reports Workhorse’s entry into a material definitive agreement amending two credit agreements (cash-flow and customer-order based) with Motive GM Holdings II LLC.
Ticker impact
Workhorse entered an Omnibus Amendment that increases its Cash Flow Credit Agreement commitment to $30M and reduces Customer Orders commitment to $20M.
Near-term sentiment likely neutral-to-slightly positive for liquidity optics, but credit terms and warrant dilution risk may cap upside.
The 8-K is a primary-source disclosure of amended commitments and a warrant obligation, but it does not state draw amounts, pricing, or covenant changes beyond the commitment definitions and one $10M interest timing detail.
Market effects
Highlights ongoing reliance on structured lender facilities in the EV/vehicle manufacturing financing ecosystem.
Limited; primarily affects US small-cap credit/liquidity sentiment.
Low; lender is US-based and the disclosure is company-specific.
Counterpoint
Because the amendment explicitly states the lender’s authority is discretionary (post-PIPE closing date) rather than a binding commitment, the incremental headline capacity may not translate into usable liquidity immediately.
Key entities
- companyWorkhorse Group Inc.
Borrower; amended its cash-flow and customer-order credit commitments and agreed to issue warrants as consideration.
- lenderMotive GM Holdings II LLC
Counterparty lender; agreed to amend commitments under the two credit agreements.
