MARATHON ASSET MANAGEMENT LP 4
4 · Workhorse Group Inc. · Filed May 8, 2020
Insider Transaction Report
Form 4
MARATHON ASSET MANAGEMENT LP
10% Owner
Transactions
- Exercise of In-Money
Common Stock
2020-05-06$1.25/sh+3,845,000$4,806,250→ 3,845,000 total(indirect: See footnotes) - Exercise of In-Money
Warrants (Right to Buy)
2020-05-06−3,845,000→ 4,208,390 total(indirect: See footnotes)Exercise: $1.25From: 2018-12-31Exp: 2023-12-31→ Common Stock (3,845,000 underlying) - Sale
Common Stock
2020-05-08$2.90/sh−3,845,000$11,150,500→ 0 total(indirect: See footnotes)
Footnotes (2)
- [F1]The warrants are held by funds and accounts (the "Funds and Accounts") that are advised by Marathon Asset Management, L.P. (the "Reporting Person"). The Reporting Person, in its capacity as the investment manager of the Funds and Accounts, has sole power to direct the disposition of the warrants held by the Funds and Accounts and, following exercise of such warrants, to vote and direct the disposition of the underlying shares of the issuer's common stock. Thus, for the purposes of Rule 13d-3 under the Securities Exchange Act of 1934 (the "Exchange Act"), the Reporting Person may be deemed to beneficially own the securities reported herein. The Reporting Person's interest in such securities is limited to the extent of its pecuniary interest in the Funds and Accounts, if any. The general partner of the Reporting Person is Marathon Asset Management GP, L.L.C. (the "General Partner"). Bruce Richards and Louis Hanover are the managing members of the General Partner.
- [F2]This report shall not be deemed an admission that the Reporting Person, the General Partner, Messrs. Richards or Hanover, the Funds and Accounts or any other person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Exchange Act, or for any other purpose.