Worksport Ltd 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds (a) Recent Sales of Unregistered Securities ● On June 13, 2025, Worksport completed the initial closing of its Regulation A offering of up to 3,100,000 units, each consisting of one share of the Company’s 8% Series C Convertible Preferred Stock, and one warrant to purchase one share of the Company’s common stock. The Offering is being conducted pursuant to the Company’s Offering Statement on Form 1-A, as amended, which was qualified by the U.S. Securities and Exchange Commission on May 27, 2025. Through September 30, 2025, the Company issued an aggregate of 2,349,202 Units to investors that were placed by Digital Offering LLC, the Company’s placement agent, for aggregate gross proceeds of $7,634,957, including share subscriptions receivable of $499,850. After deducting Placement Agent commissions and offering-related expenses (issuance costs) of $707,035, the Company received net proceeds of $6,927,922. The issuance of the securities was made pursuant to the exemption from registration provided under Section 3(b)(2) of the Securities Act and Regulation A. Subsequent to September 30, 2025, the Company issued an aggregate of 725,386 Units to investors for aggregate gross proceeds of $2,357,454. After deducting issuance costs of $192,962, the Company received net proceeds of $2,164,492. (b) Use of Proceeds Not applicable. (c) Purchases of Equity Securities by the Issuer and Affiliated Purchasers None. Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures Not applicable.