Workhorse Group fell short in its first try at getting shareholders to more than double the number of authorized shares in the electric step van manufacturer.
The Cincinnati-based company will count proxies again on Friday. It hopes for approval that would to sell up to 250,000 new shares of stock to raise capital. The move would dilute the value of shares held by current investors as new shares are registered.
Workhorse has endured a difficult existence, running short on money several times. It...
https://www.freightwaves.com/news/workhorse-falls-short-on-votes-to-increase-share-count