Company: WKSP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022113
Chunk: 59

Company: Worksport Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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2022, the Company filed a shelf registration statement on Form S-3, which was declared effective by the U.S.
Securities and Exchange Commission (the “SEC”) on October 13, 2022 (the “Shelf Registration Statement”), allowing the Company to issue up to $30,000,000
of common stock and prospectus supplement covering the offering, issuance and sale of up to $13,000,000
of common stock that may be issued and sold under an At The Market Offering Agreement dated September 30, 2022 (“ATM
Agreement”), with H.C. Wainwright & Co., LLC, as the sales agent (“HCW”). Pursuant to the ATM Agreement, HCW
is entitled to a commission equal to 3.0%
of the gross sales price of the shares of common stock sold. Through September 30, 2025, the Company cumulatively sold and issued 872,027
shares of common stock in consideration for net proceeds of $6,751,381
under the ATM Agreement. The Shelf Registration Statement expired in October 2025 and the Company will file a new shelf registration statement
in November 2025.

On
November 2, 2023, the Company consummated a registered direct offering pursuant to which the Company issued 192,500 shares of common
stock and 157,500 pre-funded warrants to an institutional investor for a total net proceeds of $4,261,542. Concurrently with the registered
direct offering, the Company issued the same institutional investor 700,000 warrants in a private sale. The warrants are exercisable
for 700,000 shares of common stock for $13.40 per share six months after issuance and until five and a half (5.5) years from the issuance
date, subject to beneficial ownership limitations as described in the warrants. The Company registered the 700,000 shares of common stock
underlying the warrants on a Form S-1 (333-276241) which was declared effective by the SEC on December 29, 2023.

On
March 20, 2024, the Company consummated a registered direct offering pursuant to which the Company issued 237,224 shares of common stock
and 147,789 pre-funded warrants to the same institutional investor as in the Company’s registered direct offering on November 2,
2023, for a total net proceeds of $2,629,083. Concurrently with the registered