Workhorse Group (NASDAQ: WKHS) is selling $200 million in new debt to build up cash it needs to increase production of its electric delivery vans. It is also converting a more expensive note to new stock.
Issuing new debt is a common tactic for Workhorse. Borrowing costs less now because investors are betting Workhorse will win at least part of a $6.3 billion contract to build next-generation delivery vehicles for the U.S. Post Service. Its stock languished in the low single digits, trading as...
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