Company: WKSP
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001641172-25-001309
Chunk: 53

Company: Worksport Ltd
Filing Date: 2025-03-28
Form: S-1
Chunk 53
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 shares of Common Stock, subject to certain exceptions, then upon any
subsequent exercise of a Warrant, the holder will have the right to receive as alternative consideration, for each share of Common Stock
that would have been issuable upon such exercise immediately prior to the occurrence of such fundamental transaction, the number of shares
of Common Stock of the successor or acquiring corporation of the Company, if it is the surviving corporation, and any additional consideration
receivable upon or as a result of such transaction by a holder of the number of shares of Common Stock for which the Warrant is exercisable
immediately prior to such event. Notwithstanding the foregoing, in the event of a fundamental transaction, the holders of the Warrants
have the right to require the Company or a successor entity to purchase the Warrants for cash in the amount of the Black Scholes Value
(as defined in the Warrants) of the unexercised portion of the Warrants concurrently with or within 30 days following the consummation
of a fundamental transaction. However, in the event of a fundamental transaction which is not in the Company’s control or in which
the consideration payable consists of equity securities of a successor entity that is quoted or listed on a nationally recognized securities
exchange, the holders of the Warrants will only be entitled to receive from the Company or its successor entity, as of the date of consummation
of such fundamental transaction the same type or form of consideration (and in the same proportion), at the Black Scholes Value of the
unexercised portion of the Warrants that is being offered and paid to the holders of Common Stock in connection with the fundamental transaction,
whether that consideration is in the form of cash, stock or any combination of cash and stock, or whether the holders of Common Stock
are given the choice to receive alternative forms of consideration in connection with the fundamental transaction.

<div align='center'>SELLING STOCKHOLDERS</div>

The Common Stock being offered by the Selling Stockholder
are those issuable to the Selling Stockholder, upon exercise of the Warrants. For additional information regarding the issuances
of the Warrants, see “Private Placement of Warrants” above. We are registering the Warrant Shares in order to permit
the Selling Stockholders to offer the shares for resale from time to time. In addition to the ownership of the shares of Common Stock
and the Warrants, the Selling Stockholders have had material relationships with us within the past three years.

Beneficial ownership