Company: WKSP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023334
Chunk: 134

Company: Worksport Ltd
Filing Date: 2025-08-13
Form: 10-Q
Item: Part II, Item 2
Chunk 134
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(a)
Recent Sales of Unregistered Securities

    ●
    On June 13, 2025, Worksport completed the initial closing of its Regulation
A offering of up to 3,100,000 units, each consisting of one share of the Company’s 8% Series C Convertible Preferred Stock, and
one warrant to purchase one share of the Company’s common stock. The Offering is being conducted pursuant to the Company’s
Offering Statement on Form 1-A, as amended, which was qualified by the U.S. Securities and Exchange Commission on May 27, 2025. In connection
with the initial closing, the Company issued an aggregate of 49,335 Units to investors that were placed by Digital Offering LLC, the Company’s
placement agent, for aggregate gross proceeds of $160,338.75. After deducting Placement Agent commissions and offering-related expenses
of $11,223.71, the Company received net proceeds of $149,115.04. The issuance of the securities was made pursuant to the exemption from
registration provided under Section 3(b)(2) of the Securities Act and Regulation A.

(b)
Use of Proceeds

Not
applicable.

(c)
Purchases of Equity Securities by the Issuer and Affiliated Purchasers

None.

Item
3. Defaults Upon Senior Securities

None.

Item
4. Mine Safety Disclosures

Not
applicable.

Item
5. Other Information

Securities
Trading Plans

During
the six months ended June 30, 2025, none of our Section 16 officers or directors (as defined in Rule 16a-1(f) of the Exchange Act)
adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy
the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act or any “non-Rule 10b5-1 trading arrangement” (as
defined in Section 408(c) of Regulation S-K).

Subsequent
Events

    On
    July 12, 2025, the Company granted employees an aggregate of 91,940 stock options priced at the closing stock price on July 11, 2025,
    vesting 50% at the end of the following two annual anniversaries from grant date, and expiring 10 years from grant date. Under these
    same terms, the Company granted directors an aggregate of 10,000 stock options