Company: WKSP
Filing Date: 2025-11-14
Form Type: S-3
Source: 0001493152-25-023663
Chunk: 11

Company: Worksport Ltd
Filing Date: 2025-11-14
Form: S-3
Chunk 11
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 payable by the Company. The Company intends to use the net proceeds of the offering for general corporate and working capital purposes. February 2025 Inducement Letter; New Warrants On February 27, 2025, we entered into a common stock warrant exercise inducement offer letter (the “2025 Inducement Letter”) with a certain holder (the “Holder”) of existing warrants to purchase shares of our common stock at an exercise price of $5.198 per share, issued on May 29, 2024 (the “May 2024 Existing Warrants”), pursuant to which the Holder agreed to exercise for cash its May 2024 Existing Warrants to purchase an aggregate of 1,295,000 shares of our common stock at $5.198 per share, in consideration for our agreement to issue new warrants (the “2025 Inducement Warrants”), to purchase an aggregate of 1,424,500 shares of our common stock at an exercise price of $6.502 per share, subject to adjustment for stock splits, recapitalizations and reorganizations and beneficial ownership limitations as described therein. Each 2025 Inducement Warrant is exercisable six months after issuance, or August 27, 2025, until five and a half-year anniversary from the date of issuance. We received proceeds of $6,731,410 before deducting placement agent fees and other offering expenses payable by the Company upon the exercise of the May 2024 Existing Warrants. Recent Business Developments The following highlights recent material developments in our business:

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 ● | On April 29, 2025, the Company announced a strategic partnership                                                                        
 with Patriot Automotive Technologies to accelerate nationwide expansion through Patriot’s network of over 200 dealer locations.         
 On May 28, 2025, the Company announced that it secured ISO                                                                              
 9001 Certification at its U.S. Factory, expected to pave new inroads towards substantial new OEM and global supply chain opportunities. 
 This certification cycle officially commenced in April 2025 and remains valid through April 2028, contingent upon continued compliance. |
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| ● | On June 2, 2025 the Company announced that 80% of the AL4 product                                                                       
 line—20 out of 25 planned models—had been successfully rolled out to market.                                                            |

| 2 |

| ● 
 ● | On June 5, 2025, the                                                                                                           
 Company confirmed a