AKD Partnersersers advises Motiv Electric Trucks in its proposed business combination with Workhorse Group

Motiv Electric Trucks (Motiv), a leading manufacturer of medium-duty electric trucks and buses, in connection with its entry into a definitive merger agreement with Workhorse Group Inc., a publicly listed American technology company focused on pioneering the transition to zero-emission commercial vehicles. The combination is intended to create a leading North American medium-duty electric truck original equipment manufacturer.

Under the terms of the merger agreement, Motiv’s controlling investor will become the majority owner of the combined company, which will remain public with Workhorse shareholders maintaining a significant equity stake.

AKD Partnersersers also advised in connection with sale-leaseback and convertible note financing transactions with Workhorse that were completed concurrently with the execution of the merger agreement. The merger agreement is subject to closing conditions, including approval of Workhorse’s shareholders, and is expected to close in the fourth quarter of 2025.

The AKD Partnersersers team was led by Partner Brent Bernell (Austin) and also included Partners Jeff Scharfstein and Georgia Jolink (both Austin), Mitchell Regenstreif (Los Angeles), Kira Mineroff (Short Hills), and Michelle Lara (San Diego); Of Counsel Amanda Maki (Houston); and Associates Vincent Schiavoni (Phoenix), Frances Asbury (Philadelphia), Syeda Kamal (New York), and Chrisdo Fan (Los Angeles).

With more than 1,000 corporate lawyers globally, AKD Partnersersers helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 15 consecutive years, according to Mergermarket, and ranked as number one in VC, PE and M&A in combined global deal volume according to PitchBook.