Workhorse Group has recommended shareholders vote for the merger with Motiv Electric Trucks today, as part of the upcoming Annual General Meeting on November 12, 2025. The recommendation is a key step toward finalizing the all‑stock transaction that will combine the two companies into a leading medium‑duty electric truck OEM.
The all‑stock transaction values the combined company at approximately $105 million and will give Motiv’s controlling investor 62.5% ownership, Workhorse shareholders 26.5%, and the existing senior secured lender 11% on a fully diluted basis. The merger is expected to close in Q4 2025, subject to shareholder approval and customary closing conditions, including debt financing.
The recommendation to vote is a critical move to secure shareholder approval, which is essential for the transaction to proceed. The merger is expected to strengthen Workhorse’s financial position, expand its product portfolio, and unlock synergies of at least $20 million by the end of 2026. Shareholders are encouraged to vote in favor of the proposal to support the transaction.
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