Workhorse gets $25 million needed to finish electric delivery van

Workhorse Group, the electric vehicle company that grabbed headlines last month over a proposed deal to buy General Motors’ Lordstown, Ohio factory, has raised $25 million from a group of unnamed investors. The money will not go toward the factory. Instead, it will be used for the more pressing matter of keeping the company running. Under terms of the deal, investors will receive preferred stock and warrants to buy shares. An annual dividend will be paid out in shares of Workhorse stock.

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