Worksport closes initial $160K tranche of 8% Series C preferred Reg A offering

Worksport Ltd

Issued 49,335 Units at $3.25/Unit in initial closing of up to 3.1M Unit Reg A offering.
Gross proceeds $160,339; net proceeds $149,115 after $11,224 in commissions/expenses.
Each Unit: one share of 8% Series C Convertible Preferred ($3.25 liquidation preference) plus one warrant to buy common at $4.50.
Preferred pays 8% cumulative annual dividend, convertible to common subject to 9.99% ownership cap, mandatory conversion after 2 years.

item 1.01 item 3.02 item 3.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Worksport Ltd: Filed Certificate of Designation for 8% Series C Convertible Preferred Stock, designating 3,100,000 shares (effective 2025-06-13).

Change: charter amendment
Effective: 2025-06-13

Exact text from the filing

On June 13, 2025, in connection with the Offering, the Company filed the Certificate of Designation of the 8% Series C Convertible Preferred Stock with the Secretary of State of the State of Nevada, designating 3,100,000 shares of such series.

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Worksport Ltd filing history →

Source: SEC EDGAR

accession 0001641172-25-015628

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