Workhorse Taps Market
Workhorse Group Inc., a manufacturer electric delivery vehicles and drones, is looking to ping the Stock Market for extra funds. The group is offering 7 million shares, for $3 a share. Ending wednesday, the company made over 20 million dollars to cover research, and corporate spending. While surging to $11 a share in April, to stooping back down to $3.24 January 1st, the company still has yet to prove if they are profitable and a good investment. Since launching in 2007, they have incurred over $56 million in net losses. They also, reportedly, are cash poor. On December 31, they reported $500,000. In September, a few months earlier, they had $3.1 million.