STOCK TITAN

Workhorse Group Regains Compliance with Nasdaq’s Continued Listing Requirements

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Negative)
Tags

Workhorse Group (WKHS) has successfully regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share, following a notification of non-compliance received on October 2, 2024. The company, which focuses on zero-emission commercial vehicles, implemented a 1-for-12.5 reverse stock split on March 17, 2025, to increase its market price.

The compliance was achieved by maintaining a closing bid price of at least $1.00 per share for ten consecutive trading days, as confirmed by Nasdaq. This development ensures Workhorse's continued listing on the Nasdaq stock exchange under Listing Rule 5550(a)(2).

Workhorse Group (WKHS) ha riacquistato con successo la conformità con il requisito di prezzo minimo di offerta di Nasdaq di $1,00 per azione, dopo aver ricevuto una notifica di non conformità il 2 ottobre 2024. L'azienda, che si concentra su veicoli commerciali a zero emissioni, ha implementato un raggruppamento azionario 1-per-12,5 il 17 marzo 2025, per aumentare il proprio prezzo di mercato.

La conformità è stata raggiunta mantenendo un prezzo di offerta di chiusura di almeno $1,00 per azione per dieci giorni di trading consecutivi, come confermato da Nasdaq. Questo sviluppo garantisce la continuazione della quotazione di Workhorse sulla borsa Nasdaq secondo la Regola di Quotazione 5550(a)(2).

Workhorse Group (WKHS) ha recuperado con éxito el cumplimiento del requisito de precio mínimo de oferta de Nasdaq de $1.00 por acción, tras recibir una notificación de incumplimiento el 2 de octubre de 2024. La empresa, que se centra en vehículos comerciales de cero emisiones, implementó un split inverso de acciones 1-por-12.5 el 17 de marzo de 2025, para aumentar su precio de mercado.

El cumplimiento se logró manteniendo un precio de oferta de cierre de al menos $1.00 por acción durante diez días de negociación consecutivos, tal como lo confirmó Nasdaq. Este desarrollo asegura la continuidad de la cotización de Workhorse en la bolsa de Nasdaq bajo la Regla de Cotización 5550(a)(2).

워크호스 그룹 (WKHS)는 2024년 10월 2일에 받은 비준수 알림에 이어 나스닥의 최소 입찰 가격 요구 사항인 주당 $1.00를 성공적으로 회복했습니다. 제로 배출 상업용 차량에 집중하는 이 회사는 시장 가격을 높이기 위해 2025년 3월 17일에 1대 12.5의 주식 병합을 시행했습니다.

이 준수는 나스닥에 의해 확인된 바와 같이 10일 연속 거래일 동안 주당 최소 $1.00의 종가를 유지함으로써 달성되었습니다. 이 발전은 워크호스가 나스닥 상장 규칙 5550(a)(2)에 따라 나스닥 증권 거래소에서 계속 상장될 수 있도록 보장합니다.

Workhorse Group (WKHS) a réussi à retrouver la conformité avec l'exigence de prix minimum de l'offre de Nasdaq de 1,00 $ par action, suite à une notification de non-conformité reçue le 2 octobre 2024. L'entreprise, qui se concentre sur les véhicules commerciaux à zéro émission, a mis en œuvre un rachat d'actions 1 pour 12,5 le 17 mars 2025, afin d'augmenter son prix de marché.

La conformité a été atteinte en maintenant un prix d'offre de clôture d'au moins 1,00 $ par action pendant dix jours de négociation consécutifs, comme confirmé par Nasdaq. Ce développement garantit la poursuite de la cotation de Workhorse sur la bourse Nasdaq selon la Règle de Cotation 5550(a)(2).

Workhorse Group (WKHS) hat erfolgreich die Einhaltung der Mindestangebotspreisanforderung von Nasdaq von $1,00 pro Aktie wiederhergestellt, nachdem am 2. Oktober 2024 eine Mitteilung über die Nichterfüllung eingegangen war. Das Unternehmen, das sich auf emissionsfreie Nutzfahrzeuge konzentriert, führte am 17. März 2025 einen 1-zu-12,5 Aktiensplit durch, um seinen Marktpreis zu erhöhen.

Die Einhaltung wurde erreicht, indem der Schlusskurs von mindestens $1,00 pro Aktie für zehn aufeinanderfolgende Handelstage aufrechterhalten wurde, wie von Nasdaq bestätigt. Diese Entwicklung sichert die fortgesetzte Notierung von Workhorse an der Nasdaq-Börse gemäß der Listing-Regel 5550(a)(2).

Positive
  • Regained Nasdaq listing compliance, eliminating immediate delisting risk
Negative
  • Required 1-for-12.5 reverse stock split to maintain listing, indicating underlying share price weakness

CINCINNATI, April 02, 2025 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”), an American technology company focused on pioneering the transition to zero-emission commercial vehicles, today announced the receipt of a formal notification from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company has regained compliance with the minimum bid price of $1.00 per share, as required by Listing Rule 5550(a)(2).

As previously disclosed, the Company received notice from Nasdaq on October 2, 2024 indicating that the closing bid price for Workhorse’s common stock had fallen below the minimum bid price for continued listing for 30 consecutive trading days and was no longer in compliance with the minimum bid requirement. To regain compliance, the Company was required to have a minimum closing bid price of at least $1.00 per share for ten consecutive trading days; Nasdaq confirmed yesterday that the Company is now in compliance with Listing Rule 5550(a)(2).

As previously announced, the Company effected a 1-for-12.5 reverse stock split of its common stock on March 17, 2025, intended to increase the market price of Workhorse’s common stock, after which the common stock began trading on a split-adjusted basis.

About Workhorse Group Inc.
Workhorse Group Inc. (Nasdaq: WKHS) is a technology company focused on pioneering the transition to zero-emission commercial vehicles. Workhorse designs and builds its vehicles in the United States at the Workhorse Ranch in Union City, Indiana. The company’s best-in-class vehicles are designed for last-mile delivery, medium-duty operations, and a growing range of specialized applications. For more information, visit www.workhorse.com.

Forward-Looking Statements
The discussions in this press release contain forward-looking statements reflecting the Company’s current expectations that involve risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “expect,” “plan,” “believe,” “seek,” “estimate” and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements about the features, benefits and performance of the Company’s products, the Company’s ability to introduce new product offerings and increase revenue from existing products, expected expenses including those related to selling and marketing, product development and general and administrative, the Company’s beliefs regarding the health and growth of the market for the Company’s products, anticipated increase in the Company’s customer base, expansion of the Company’s products functionalities, expected revenue levels and sources of revenue, expected impact, if any, of legal proceedings, the adequacy of the Company’s liquidity and capital resources, including the Company’s ability to receive sufficient funding from the Company’s existing financing arrangements or from future financings and the expected terms of such financing, and expected growth in business. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained in this press release. Factors that could cause actual results to differ materially include, but are not limited to: the Company’s ability to develop and manufacture the Company’s product portfolio, including the W4 CC, W750, and W56 and other programs; the Company’s ability to attract and retain customers for the Company’s existing and new products; ongoing and anticipated changes in the U.S. political environment, including those resulting from the new Presidential Administration, control of Congress, and changes to regulatory agencies; the implementation of changes to the existing tariff regime by the new Presidential Administration and measures taken in response to such tariffs by foreign governments; risks associated with obtaining orders and executing upon such orders; the unavailability, reduction, elimination or adverse application of government subsidies and incentives or any challenge to or failure by the federal government, states or other governmental entities to adopt or enforce regulations such as the California Air Resource Board’s Advanced Clean Fleet regulation; changes in attitude toward environmental, social, and governance matters among regulators, investors, and parties with which the Company does business; supply chain disruptions, including constraints on steel, semiconductors and other material inputs and resulting cost increases impacting the Company’s Company, the Company’s customers, the Company’s suppliers or the industry; the Company’s ability to capitalize on opportunities to deliver products to meet customer requirements; the Company’s limited operations and need to expand and enhance elements of the Company’s production process to fulfill product orders; the Company’s general inability to raise additional capital to fund the Company’s operations and business plan; the Company’s ability to receive sufficient proceeds from the Company’s current and any future financing arrangements to meet the Company’s immediate liquidity needs and the potential costs, dilution and restrictions resulting from any such financing; the Company’s ability to maintain compliance with the listing requirements of the Nasdaq Capital Market and the impact of any steps the Company has taken, including reverse splits of the Company’s common stock, or any future steps the Company may take to maintain such compliance, on the Company’s operations, stock price and future access to liquidity; the Company’s ability to protect the Company’s intellectual property; market acceptance of the Company’s products; the Company’s ability to obtain sufficient liquidity from operations and financing activities to continue as a going concern and, the Company’s ability to control the Company’s expenses; the effectiveness of the Company’s cost control measures and impact such measures could have on the Company’s operations, including the effects of furloughing employees; potential competition, including without limitation shifts in technology; volatility in and deterioration of national and international capital markets and economic conditions; global and local business conditions; acts of war (including without limitation the conflicts in Ukraine and the Middle East) and/or terrorism; the prices being charged by the Company’s competitors; the Company’s inability to retain key members of the Company’s management team; the Company’s inability to satisfy the Company’s customer warranty claims; the outcome of any regulatory or legal proceedings, including with Coulomb Solutions Inc.; the Company’s ability to consummate and realize the benefits of a potential sale and leaseback transaction of the Company’s Union City Facility; and other risks and uncertainties and other factors discussed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”), including under the “Risk Factors” sections of the Company’s filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024. Forward-looking statements speak only as of the date hereof. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Media Contact:
Aaron Palash / Greg Klassen
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Investor Relations Contact:
Tom Colton and Greg Bradbury
Gateway Group
949-574-3860
WKHS@gateway-grp.com


FAQ

What was the ratio of Workhorse Group's (WKHS) reverse stock split in March 2025?

Workhorse Group implemented a 1-for-12.5 reverse stock split on March 17, 2025.

How long did WKHS need to maintain $1.00 minimum bid price to regain Nasdaq compliance?

WKHS needed to maintain a minimum closing bid price of $1.00 per share for ten consecutive trading days.

When did Workhorse Group (WKHS) receive its initial Nasdaq non-compliance notice?

Workhorse received the initial non-compliance notice from Nasdaq on October 2, 2024.

What is the minimum bid price requirement for Nasdaq listing that WKHS had to meet?

The minimum bid price requirement for Nasdaq listing is $1.00 per share under Listing Rule 5550(a)(2).
Workhorse Group

NASDAQ:WKHS

WKHS Rankings

WKHS Latest News

WKHS Stock Data

4.16M
5.05M
1.74%
4.82%
22%
Auto Manufacturers
Motor Vehicles & Passenger Car Bodies
Link
United States
LOVELAND