Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 219

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 219
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Not
applicable.

30

PART
II

ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market
Information

Our
common stock commenced trading on The Nasdaq Capital Market under the symbol “WKSP” on August 4, 2021. Prior to trading on
Nasdaq, our common stock was quoted on the OTCQB Market under the symbol “WKSP.”

Holders
of Common Stock

On
March 27, 2025, there were 344 holders of record of our common stock.

Stock
Transfer Agent

Our
transfer agent is Vstock Transfer, LLC., located at 18 Lafayette Place, Woodmere, NY 11598. Their telephone number is (212) 828-8436.

Dividend
Policy

We
do not expect to pay cash dividends in the foreseeable future. Any future decision to pay dividends will be at the discretion of our
board and will depend, among other things, on earnings, financial condition, level of indebtedness, provisions of our existing credit
agreements and other factors that our board deems relevant.

31

Unregistered
Sales of Equity Securities

    ●
    Warrants
    to purchase 770,026 shares of common stock of the Company at an exercise price of $7.40 per share, subject to adjustment for reverse
    stock splits, recapitalizations and reorganizations, which are exercisable six months after the date of issuance, or September 20,
    2024, until the five and a half-year anniversary date of the date of issuance, or September 20, 2029.

    ●
    On
    May 31, 2024, the Company issued warrants to purchase up to 1,295,000 shares of the Company’s common stock in connection with
    entering into the Inducement Offer Letter with a certain holder of existing warrants, pursuant to which the Holder agreed to exercise
    for cash its Existing Warrants to purchase an aggregate of 700,000 shares of the Company’s common stock, at a reduced exercised
    price of $0.5198 per share. Each Inducement Warrant has an exercise price equal to $5.198 per share and will be exercisable at any
    time on or after the date that is six (6) months from the issuance date provided that stockholder approval is