Company: WKSP
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010837
Chunk: 47

Company: Worksport Ltd
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 47
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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 March 31, 2025, the Company has sold and issued 784,133 shares
of common stock in consideration for net proceeds of $6,432,971
under the ATM Agreement.

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
years5.5
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