IPO - Worksport Ltd

Form Type: S-1

Filing Date: 2025-03-28

Corporate Action: Ipo

Type: New

Accession Number: 000164117225001309

Filing Summary: Worksport Ltd., a company incorporated in Nevada, filed a Registration Statement on Form S-1 with the SEC on March 28, 2025. This document pertains to the proposed sale of up to 1,614,500 shares of Common Stock through the exercise of outstanding warrants by selling stockholders. The shares include those from two private placements: one on September 19, 2024, where PIPE Warrants for 190,000 shares at $0.40 each were issued, and another on February 27, 2025, involving Inducement Warrants for 1,424,500 shares at an exercise price of $6.502. The Company aims to utilize these proceeds, estimated at about $6,731,410, for general corporate purposes. The firm is classified as a smaller reporting company and has undergone reverse stock splits to ensure compliance with Nasdaq listing requirements. As of March 26, 2025, shares traded at $3.67 on Nasdaq under the symbol 'WKSP'. The prospectus highlights the business's focus on automotive accessories, consumer electronics, and HVAC products, as well as details about corporate governance and risk factors associated with investing in the company's stock.

Document Link: View Document