Company: WKSP
Filing Date: 2025-12-11
Form Type: 8-K
Source: 0001493152-25-027177
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Company: Worksport Ltd
Filing Date: 2025-12-11
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Merial Definitive Agreement.

On
December 11, 2025, Worksport Ltd., a Nevada corporation (the “ Company”), entered into a common stock warrant exercise inducement
offer letter (the “ Inducement Letter”) with a certain holder (the “ Holder”) of existing warrants to purchase
shares of the Company’s common stock, par value $0.0001 per share (the “ Common Stock”), at a weighted average exercise
price of $6.82, issued on March 20, 2024 and March 3, 2025, respectively (the “ Existing Warrants”). Pursuant to the Inducement
Letter, the Holder agreed to exercise for cash its Existing Warrants to purchase an aggregate of 2,194,526 shares of Common Stock at
a reduced exercise price of $2.90 per share, in consideration for the Company’s agreement to issue new warrants (the “ Inducement
Warrants”) having terms as described below, to purchase up to 3,840,421 shares of Common Stock (the “ Inducement Warrant Shares”).
The Company expects to receive aggregate gross proceeds of approximately $6,400,000 from the exercise of the Existing Warrants by the
Holder, before deducting placement agent fees and other offering expenses payable by the Company.

The
Company engaged Maxim Group LLC (“ Maxim”) to act as its exclusive financial advisor in connection with the transactions summarized
above and will pay Maxim a cash fee from the gross proceeds received from the exercise of the Existing Warrants.

The
Company expects to use the net proceeds of these transactions for general corporate and working capital purposes. The closing of the
transactions contemplated pursuant to the Inducement Letter is expected to occur on or about December 12, 2025 (the “ Closing
Date”), subject to satisfaction of customary closing conditions.

The
resale of the shares of Common Stock issuable upon exercise of the Existing Warrants is registered pursuant to the existing
registration statements on Form S-1 (File No. 333-278461 and File No. 333-286255, respectively), declared effective by the Securities
and Exchange Commission (the “ SEC”) on April 8, 2024 and April 3, 2025, respectively.

The
Company also agreed to file a registration statement on Form S-3 (or other appropriate form if the Company is not then S-3 eligible)
covering the resale of