Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 230

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 230
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 warrants to purchase up to 190,000 shares of common stock at an exercise
price of $4.00 per share, exercisable for a period of five years from the date of issuance. The warrants contain standard adjustment provisions
for stock splits, recapitalizations and reorganizations and include beneficial ownership limitations to prevent the purchaser from exceeding
certain ownership thresholds. We obtained $380,000 in net proceeds from this offering.

Public
Offering

On
September 30, 2022, we filed a shelf registration statement on Form S-3 (File No. 333-267696), which was declared effective by the SEC
on October 13, 2022, containing a base prospectus covering the offering, issuance and sale by us of up to $30,000,000 of our common stock
and prospectus supplement covering the offering, issuance and sale by us of up to $13,000,000 of our common stock that may be issued
and sold under an At The Market Offering Agreement dated as of September 30, 2022. Pursuant to the ATM Agreement, H.C. Wainwright &
Co., LLC is entitled to a commission equal to 3.0% of the gross sales price of the shares of common stock sold. We sold $6,032,789 of shares of common stock pursuant to the ATM Agreement during the fiscal year ended December
31, 2024.

March
2024 Direct Offering and Concurrent Private Offering

On
March 18, 2024, we entered into a securities purchase agreement (the “Securities Purchase Agreement”) with a certain institutional
investor (the “Purchaser”) pursuant to which we sold, in a registered direct offering, an aggregate of (i) 237,224 shares
(the “Shares”) of common stock and (ii) 147,789 pre-funded warrants (the “Pre-funded Warrants”) to purchase up
to 147,789 shares of Common Stock (the “Pre-funded Warrant Shares”). The offering price per Share was $7.40 and the offering
price per Pre-funded Warrant was $7.399. The Shares, Pre-funded Warrants and Pre-funded Warrants Shares were offered pursuant to our
Form S-3 Registration as supplemented by a prospectus supplement and accompanying base prospectus dated March 18, 2024, filed with the
SEC on March 19, 2024 pursuant to Rule 424(b)(5) promulgated under the