This is a dilutive micro-cap offering from a company with a going-concern warning and limited shelf capacity. The $0.70 price is below the $0.74 market close, indicating a discounted placement. With only $291K of baby-shelf capacity remaining, future equity raises will be constrained. Monitor for any subsequent 8-Ks detailing use of proceeds or further capital needs.
Price Chart
Executive Summary
Worksport Ltd filed a 424B5 prospectus supplement for a best-efforts offering of 675,529 shares of common stock at $0.70 per share, raising approximately $449,226 in net proceeds for working capital. The offering price is at a discount to the $0.74 closing price on the filing date, and the company has a history of losses, a going concern qualification, and a $7M market cap. The filing is a dilutive capital raise from a micro-cap company with limited remaining shelf capacity.
Key Facts
- Offering 675,529 shares of common stock at $0.70 per share, raising gross proceeds of $472,870
- Net proceeds to company approximately $449,226 after 5% placement agent fees
- Public float as of June 18, 2026 was $15,749,287; one-third is $5,249,710
- Prior 12-month sales under I.B.6 totaled $4,485,660; after this offering, capacity drops to ~$291,180
- Common stock outstanding before offering: 14,037,000; after: 14,712,529 (4.8% dilution)
- Company has going-concern qualification, accumulated deficit of ~$77.6M as of Sep 30, 2025
- No lock-up agreements; 10-day standstill on further issuances
- Stock price on filing date: $0.74 vs offering price of $0.70 (5.4% discount)
Financial Impact
Gross proceeds of $472,870; net to company ~$449,226; 4.8% share dilution
Risk Factors
- Dilution of 4.8% from this offering
- Going-concern risk with substantial doubt from auditor
- Limited remaining shelf capacity ($291K) restricts future equity raises
- Best-efforts offering with no minimum; may not raise full amount
- Micro-cap ($7M) with history of losses and negative net tangible book value per share before offering
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001493152-26-029367 |
| Document: 0001493152-26-029367-index-headers.html | 0001493152-26-029367 |
| Document: 0001493152-26-029367-index.html | 0001493152-26-029367 |
| Document: 0001493152-26-029367.txt | 0001493152-26-029367 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 13d ago | EFFECT | $0.3717 $0.3752 | ▼ −0.94% | ▼ −0.66% | $0.3240 (+12.83%) |
Oct 6, 2026 20d ago | 8-K | $0.3854 $0.3931 | ▲ +2.00% | ▲ +2.24% | $0.3240 (−15.93%) |
Aug 26, 2026 8w ago | 8-K | $0.5100 $0.6300 | ▲ +23.53% | ▲ +22.87% | $0.3240 (−36.47%) |
Aug 14, 2026 10w ago | 8-K | $0.6600 $0.6500 | ▲ +1.52% | ▲ +0.84% | $0.3240 (+50.91%) |
Aug 11, 2026 10w ago | 8-K | $0.6763 $0.6813 | ▲ +0.74% | ▲ +0.04% | $0.3240 (−52.09%) |
Jul 29, 2026 12w ago | 8-K | $0.5857 $0.6165 | ▲ +5.26% | ▲ +3.58% | $0.3240 (−44.68%) |
Jul 22, 2026 13w ago | 8-K | $0.6215 $0.6600 | ▲ +6.19% | ▲ +7.43% | $0.3240 (−47.87%) |
Jun 22, 2026 18w ago | 8-K | $0.8383 $0.8400 | ▲ +0.20% | ▲ +1.66% | $0.3240 (−61.35%) |
Jun 18, 2026 18w ago | 424B5 | $0.8383 $0.8400 | ▼ −0.20% | ▼ −1.66% | $0.3240 (+61.35%) |
Jun 9, 2026 19w ago | 8-K | $0.6366 $0.6326 | ▼ −0.63% | ▲ +0.95% | $0.3240 (−49.10%) |
US Market Status
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