CINCINNATI, Jan. 2, 2019 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS ) ("Workhorse"), an American technology company focused on changing the way the world works by providing sustainable and cost-effective electric-mobility solutions to the transportation sector, has closed a financing in the amount of $35 million with Marathon Asset Management. The proceeds will be used for current working capital, parts acquisitions to fulfill existing and future customer purchase orders and contracts as well as to satisfy full repayment of the senior secured notes incurred in July 2018. The facility has a three-year term secured by a first priority lien on all assets. Funds will be provided 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. 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.