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Workhorse Group (WKHS) to pay $4.3M to end Coulomb Solutions lawsuit

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Workhorse Group Inc. has agreed to resolve a legal dispute with Coulomb Solutions, Inc. by entering into a binding settlement term sheet. The company will pay a $4.3 million settlement amount in exchange for final dismissal of the litigation with prejudice, subject to a definitive settlement agreement by April 30, 2026. Workhorse plans to fund the settlement through borrowing under its existing credit facilities, with payment due no later than May 28, 2026.

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Insights

Workhorse trades a $4.3M cash outlay for full legal closure.

The company agreed to a $4.3 million settlement with Coulomb Solutions, Inc. in return for dismissal of the litigation with prejudice. This removes uncertainty around an ongoing court case once a definitive settlement agreement is finalized by April 30, 2026.

The settlement will be funded through existing credit facilities, so it represents additional borrowing rather than use of current cash. The net impact blends reduced legal risk with higher leverage, and the practical effect depends on Workhorse’s overall debt capacity and liquidity, which are discussed in its periodic reports.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Settlement Amount $4.3 million Cash payment to resolve Coulomb Solutions litigation
Definitive agreement deadline April 30, 2026 Deadline to finalize definitive settlement agreement
Latest payment date May 28, 2026 Deadline to pay $4.3 million settlement amount
binding settlement term sheet legal
"entered into a binding settlement term sheet (the “Term Sheet”) by and among the Company and Coulomb Solutions, Inc."
dismissal with prejudice legal
"final dismissal of the Litigation with prejudice in exchange for the Company’s payment of $4.3 million"
A dismissal with prejudice is a court ruling that ends a lawsuit permanently and prevents the same claim from being filed again. For investors, it matters because it removes ongoing legal uncertainty and potential future liability for the company, much like locking a file cabinet so a problem can’t be reopened; that clarity can affect a company’s risk profile, legal costs and valuation.
forward-looking statements regulatory
"contains “forward-looking statements” within the meaning of Section 21E of the Exchange Act"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
credit facilities financial
"The Company expects to fund the payment of the Settlement Amount through borrowing under its existing credit facilities."
Credit facilities are arrangements with banks or lenders that let a company borrow money up to an agreed limit when it needs cash, similar to a business credit card or a home line of credit. They matter to investors because they show how a company manages short‑ and medium‑term financing needs, affect liquidity and debt levels, and can influence costs and risks if borrowing terms change or covenants are breached.
Understanding 8-K Material Events →
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___________________________________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 17, 2026
___________________________________
WORKHORSE GROUP INC.
(Exact name of registrant as specified in its charter)
___________________________________
Nevada
001-37673
26-1394771
(State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification Number)
48443 Alpha Drive #190, Wixom, Michigan 48393
(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (888) 646-5205


(Former name or former address, if changed since last report)
___________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.001 par value
WKHS
The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 8.01 Other Events.

On April 17, 2026, Workhorse Group Inc. (the “Company”) entered into a binding settlement term sheet (the “Term Sheet”) by and among the Company and Coulomb Solutions, Inc. to resolve the previously disclosed legal action captioned Coulomb Solutions, Inc. vs. Workhorse Technologies, Inc., Case No. 2:24-cv-11048 filed in the United States District Court for the Eastern District of Michigan (the “Litigation”).

The Term Sheet provides for, among other things, the final dismissal of the Litigation with prejudice in exchange for the Company’s payment of $4.3 million (the “Settlement Amount”). Final dismissal of the Litigation is subject to the finalization of a definitive settlement agreement not inconsistent with the Term Sheet by April 30, 2026 and the Company’s payment of the Settlement Amount no later than May 28, 2026.

The Company expects to fund the payment of the Settlement Amount through borrowing under its existing credit facilities.

Forward-Looking Statements

This Current Report on Form 8-K contains “forward-looking statements” within the meaning of Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995, as amended, which reflect the Company’s current views and beliefs with respect to future events. All statements other than statements of historical fact included in this Current Report on Form 8-K, including statements relating to the resolution of the Litigation and the Company’s expectations regarding the source of funds to pay the Settlement Amount, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ, and include but are not limited to the parties’ finalizing a definitive settlement agreement, the Company’s payment of the Settlement Amount and the availability of the Company’s existing credit facilities to fund such payment. A further description of the risks and uncertainties relating to the business of the Company is contained in the Company’s reports filed with the Securities and Exchange Commission, including the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2025, quarterly reports on Form 10-Q, and current reports on Form 8-K. The Company does not undertake to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date they are made, new information, or otherwise, unless required by law.




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WORKHORSE GROUP INC.
Date: April 23, 2026By: /s/ Robert M. Ginnan
Name: Robert M. Ginnan
Title: Chief Financial Officer


Source: View Original Filing on SEC EDGAR

FAQ

How much will Workhorse Group (WKHS) pay under the Coulomb Solutions settlement?

Workhorse agreed to pay a $4.3 million settlement amount. In exchange, the litigation will be dismissed with prejudice, meaning the claims cannot be brought again once the settlement is finalized and payment is made under the agreed timetable.

How will Workhorse Group (WKHS) fund the $4.3 million settlement payment?

Workhorse expects to fund the $4.3 million settlement through borrowing under its existing credit facilities. This means the company plans to use available debt capacity rather than existing cash balances to satisfy the payment obligation to Coulomb Solutions, Inc.

What are the key dates in Workhorse Group’s (WKHS) settlement timeline?

The parties plan to finalize a definitive settlement agreement by April 30, 2026. Workhorse must pay the $4.3 million settlement amount no later than May 28, 2026. Final dismissal of the litigation depends on completing these steps under the term sheet.

What does dismissal of the Coulomb Solutions litigation "with prejudice" mean for WKHS?

Dismissal "with prejudice" means the case is permanently closed once conditions are met. For Workhorse, this provides final resolution of the Coulomb Solutions, Inc. lawsuit, removing the risk of the same claims being refiled after the settlement is completed.

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