Company Will Use The Money For Inventory, Working Capital And Corporate Purposes
Workhorse Group, which is developing the SureFly hybrid VTOL aircraft and HorseFly drone delivery system, has closed its previously announced underwritten public offering of 9,000,000 shares of its common stock at a price of $1.15 per share. In addition, Workhorse has granted the underwriter a 45-day over-allotment option to purchase up to 1,350,000 additional shares of its common stock at the public offering price. All of the common stock was offered by the Company.