Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Recent Sales of Unregistered Securities
−Removed: June 13, 2025, Worksport completed the initial closing of its Regulation A offering of up to 3,100,000 units, each consisting of one
−Removed: share of the Company’s 8% Series C Convertible Preferred Stock, and one warrant to purchase one share of the Company’s
−Removed: common stock.
−Removed: The Offering is being conducted pursuant to the Company’s Offering Statement on Form 1-A, as amended, which was
−Removed: qualified by the U.S.
−Removed: Securities and Exchange Commission on May 27, 2025.
−Removed: Through September 30, 2025, the Company issued an
−Removed: aggregate of 2,349,202 Units to investors that were placed by Digital Offering LLC, the Company’s placement agent, for
−Removed: aggregate gross proceeds of $7,634,957, including share subscriptions receivable of $499,850.
−Removed: After deducting Placement Agent
−Removed: commissions and offering-related expenses (issuance costs) of $707,035, the Company received net proceeds of $6,927,922.
−Removed: issuance of the securities was made pursuant to the exemption from registration provided under Section 3(b)(2) of the Securities Act
−Removed: and Regulation A.
−Removed: Subsequent to September 30, 2025, the Company issued an aggregate of 725,386 Units to investors for aggregate
−Removed: gross proceeds of $2,357,454.
−Removed: After deducting issuance costs of $192,962, the Company received net proceeds of
−Removed: Use of Proceeds
−Removed: Purchases of Equity Securities by the Issuer and Affiliated Purchasers
+Added: During the three months ended March 31, 2026, the
+Added: Company granted an aggregate of 90,006 stock options to certain directors of the Company under the Company’s 2022 Equity Incentive
+Added: The options have an exercise price of $1.66 per share, vest ratably over three years, and expire on February 9, 2036.
+Added: were made prior to the filing of the Company’s Registration Statement on Form S-8 covering shares issuable under the plan.
+Added: No underwriters
+Added: were involved, and no commissions were paid.
+Added: The directors represented that the options were acquired for investment purposes and not
+Added: with a view toward distribution.
+Added: The options were issued in reliance on the exemption from registration provided by Section 4(a)(2) of
+Added: the Securities Act of 1933, as amended.
+Added: No underwriters were involved, and no commissions were paid.
+Added: Purchases of Equity Securities by the Issuer and
+Added: Affiliated Purchasers
Defaults Upon Senior Securities
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.