Workhorse Group Inc. (NasdaqCM:WKHS) announced that it has entered into a securities purchase agreement for a private placement of a 6% convertible debenture for gross proceeds of $2,000,000 with accredited investor Jospeh T. Lukens on January 10, 2017. The debenture carries a fixed coupon of 6% per annum and would mature two years from the date of issuance. The debenture is convertible into common shares of the company at a conversion price of $6.42 per share. The company issued the securities pursuant to exemption provided under Regulation D.