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.

Worksport Ltd received written notice from Nasdaq on August 13, 2026, that its common stock no longer satisfies the minimum bid price requirement of $1.00 per share under Listing Rule 5550(a)(2). This determination follows a closing bid price below the threshold for 30 consecutive business days ending August 12, 2026. The company has an initial compliance period until February 9, 2027, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days. Trading will continue under the symbol WKSP during this period. Worksport Ltd manufactures and sells hard and soft folding tonneau covers for pickup trucks.

Worksport Ltd. reported second-quarter 2026 financial results on August 11, 2026, achieving record net sales of $5.23 million, a 27.4% year-over-year increase and a 57.9% sequential rise from Q1. Gross profit expanded to $1.65 million with gross margin reaching approximately 31.5%, while operating expenses declined roughly 17% sequentially. The company reported a net loss of $3.97 million, or $0.33 per share, narrowing significantly from the $5.83 million loss in Q1. Operating cash use decreased by approximately 58% to $3.44 million compared to the prior quarter. Worksport Ltd. is an innovator and manufacturer of hybrid and clean energy solutions, including tonneau covers and solar integrations, primarily for light trucks.