Company: WKSP
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001641172-25-001309
Chunk: 2

Company: Worksport Ltd
Filing Date: 2025-03-28
Form: S-1
Chunk 2
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 (the “Common Stock”), of Worksport Ltd.
(the “Company”).

This prospectus covers the resale of up to
1,614,500 shares of Common Stock issuable upon exercise of outstanding Warrants, which the Company issued in two separate transactions
(collectively, the “Private Placements”). Pursuant to the Securities Purchase Agreement dated September 19, 2024, the Company
issued warrants to purchase up to 190,000 shares of Common Stock (the “PIPE Warrants”) to the Selling Stockholder
at an exercise price of $0.40 per share. Separately, pursuant to the Common Stock Warrant Exercise Inducement Offer Letter dated February
27, 2025 (the “Inducement Letter”), the Company issued warrants to purchase up to 1,424,500 shares of Common Stock (the “Inducement
Warrants”) to the Selling Stockholder at an exercise price of $6.502 per share in exchange for the Selling Stockholder’s
agreement to exercise for cash its existing warrants to purchase 1,295,000 shares of Common Stock.

The PIPE Warrants became exercisable upon issuance
and will expire five years from the date of issuance. The Inducement Warrants will become exercisable on August 27, 2025 and will expire
five and a half years from the date of issuance. Both the PIPE Warrants and the Inducement Warrants are subject to adjustments for stock
splits, recapitalizations, reorganizations, and beneficial ownership limitations, as described in this prospectus.

The number of Warrant Shares is determined as if
the Warrants were exercisable and exercised in full as of the trading day immediately preceding the date this registration statement
was initially filed with the Securities and Exchange Commission, each as of the trading day immediately preceding the applicable date
of determination, all of the Warrants of which were acquired by the applicable Selling Stockholder in the Private Placements.

The Selling Stockholder, or its pledgees,
assignees, or successors-in-interest, may sell any or all of the shares covered by this prospectus in public or private transactions
at prevailing market prices, fixed prices, or negotiated prices. See “Plan of Distribution” for additional information.
The Company will not receive any proceeds from the resale of these shares by the Selling Stockholder. However, the Company will
receive proceeds upon the cash exercise of any Warrants. See “Use of Proceeds” on page 27 of this prospect