secwatch.observer — SEC 8-K summary
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Issuer:     Worksport Ltd (WKSP)
CIK:        0001096275
Form:       8-K
Filed at:   2025-06-18T23:59:59+00:00
Accession:  0001641172-25-015628
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1096275/000164117225015628/0001641172-25-015628-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1096275/000164117225015628/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-015628

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