Workhorse Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Cover Page
- Audit Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING PRINCIPLES (Policies)
Notes Tables
Notes Details

DEBT - Additional Information (Details)

v3.22.4

DEBT - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions				3 Months Ended		12 Months Ended
	Apr. 21, 2022	Oct. 14, 2020	Apr. 14, 2020	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Proceeds from issuance of convertible notes						$ 0	$ 0	$ 262,374,788
Loss on extinguishment of debt						0	(1,411,000)	0
Accrued interest					$ 232,222	0	232,222
Paycheck Protection Program Term Note
Debt Instrument [Line Items]
Interest rate			1.00%
CARES Act, proceeds from loans payable			$ 1,400,000				1,400,000
Convertible notes
Debt Instrument [Line Items]
Change in fair value of convertible notes attributable to credit risk					8,800,000	0	10,200,000
Change in fair value of convertible notes						(367,357)	27,600,000
Fair value of convertible notes					24,705,000	0	$ 24,705,000	$ 197,700,000
Convertible notes \| Senior Secured Convertible Notes Due 2024
Debt Instrument [Line Items]
Interest rate		4.00%
Face amount		$ 200,000,000
Conversion price (in usd per share)		$ 35.29
Payments of debt issuance costs		$ 6,600,000
Proceeds from issuance of convertible notes		$ 193,400,000
Debt conversion, amount	$ 27,500,000				$ 172,500,000
Convertible debt, shares issued on conversion (in shares)	7.8				27.7
Loss on extinguishment of debt					$ 34,900,000
Long-term debt, gross	$ 29,400,000
Redemption percentage	107.00%
Accrued interest	$ 300,000
Loss of VWAPS						$ 1,800,000
Change in fair value of convertible notes				$ 400,000
Convertible notes \| Senior Secured Convertible Notes Due 2024 \| Reclassification out of Accumulated Other Comprehensive Income
Debt Instrument [Line Items]
Interest expense, net				$ 1,400,000

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The value of the financial instrument(s) that the original debt is being converted into in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.

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