Worksport Ltd. has entered into an agreement with a certain holder of its existing warrants, allowing the holder to exercise warrants to purchase 2,194,526 shares of common stock at a reduced price of $2.90 per share, down from a weighted average exercise price of $6.82. In exchange, Worksport will issue new inducement warrants to the holder, granting the right to purchase up to 3,840,421 additional shares. The company expects to receive gross proceeds of approximately $6.4 million from the warrant exercises, before fees and expenses, and plans to use the net proceeds for general corporate and working capital purposes. The transactions are expected to close on or about December 12, 2025.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Worksport Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-25-027177), on December 11, 2025, and is solely responsible for the information contained therein.