Worksport Ltd entered into a warrant exercise inducement agreement with an existing holder to reduce the exercise price of December 2025 warrants from $2.90 to $0.60 per share, contingent on the issuance of new warrants. The holder will exercise existing warrants for 3,840,421 shares, generating approximately $2,304,253 in gross proceeds. In return, Worksport issued inducement warrants for 4,800,526 additional shares (125% of exercised shares) with a $0.60 exercise price and five-year term. The transaction closes on August 28, 2026, with net proceeds allocated to general corporate purposes. Worksport Ltd manufactures hard-shell tonneau covers for pickup trucks.
