Workhorse Group Inc. 8-K

What Happened

• Workhorse Group Inc. announced on Form 8-K that on April 17, 2026 it entered a binding settlement term sheet with Coulomb Solutions, Inc. to resolve the litigation captioned Coulomb Solutions, Inc. v. Workhorse Technologies, Inc., Case No. 2:24-cv-11048 (E.D. Mich.).
• The Term Sheet calls for final dismissal of the Litigation with prejudice in exchange for Workhorse’s payment of $4.3 million, subject to a definitive settlement agreement consistent with the Term Sheet and the Company’s timely payment.

Key Details

• Settlement amount: $4.3 million.
• Dates and conditions: definitive settlement agreement must be finalized by April 30, 2026; payment of the $4.3M due no later than May 28, 2026.
• Funding: Workhorse expects to fund the payment through borrowing under its existing credit facilities.
• Document filed and signed by CFO Robert M. Ginnan on April 23, 2026.

Why It Matters

• If the agreement is finalized and the $4.3M paid, the Litigation will be dismissed with prejudice, removing this legal claim against the company.
• The payment is a known near-term cash obligation (subject to the settlement becoming final) and the company plans to borrow under existing credit facilities to fund it, which may affect available liquidity or borrowing capacity.
• Investors should watch for the definitive settlement filing and the actual payment by the May 28, 2026 deadline for confirmation that the matter is fully resolved.