Company: WKSP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022113
Chunk: 12

Company: Worksport Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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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 direct offering, the Company issued the institutional
investor 770,026 warrants in a private sale. The warrants are exercisable for 770,026 shares of common stock for $7.40 per share six
months after issuance until five and a half years from the issuance date, subject to beneficial ownership limitations as described in
the warrants. The Company registered the 770,026 shares of common stock underlying the warrants on a Form S-1 (333-278461) which was
declared effective by the SEC on April 8, 2024.

On
May 29, 2024, Worksport sent an inducement letter to a shareholder offering an option to exercise their warrants at a reduced
exercise price of $5.198
per warrant. In turn for doing so, Worksport offered the shareholder new warrants to purchase up to 1,295,000
shares of common stock with an exercise price of $5.198.
The warrants had a term of 5.5
years