The company acquired the funding from Marathon Asset Management, which will provide funds in two separate tranches, the first of which is a $10 million lump sum amount that will be used principally to satisfy repayment of the July 2018 senior secured notes. -  Photo of Workhorse W-15 by Chris Brown.

The company acquired the funding from Marathon Asset Management, which will provide funds in two separate tranches, the first of which is a $10 million lump sum amount that will be used principally to satisfy repayment of the July 2018 senior secured notes.

 

Photo of Workhorse W-15 by Chris Brown.

Workhorse Group Inc. secured $35 million toward current working capital, parts acquisitions for customer purchase orders and contracts, as well as to satisfy full repayment of the senior secured notes incurred in July 2018.

The company acquired the funding from Marathon Asset Management, which will provide funds in two separate tranches, the first of which is a $10 million lump sum amount that will be used principally to satisfy repayment of the July 2018 senior secured notes, according to Workhorse. The remaining $25 million will function as a revolving credit facility from which Workhorse may draw down as necessary to meet existing and future purchase orders.

Marathon is a global investment advisor with approximately $15 billion of capital under management, according to a release.

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