🔴 Worksport is trading 8.33% down today in pre-market after warrant financing raises dilution concerns

Worksport is trading 8.33% down at $0.53 after announcing warrant-inducement financing that raised dilution concerns.

• 3,840,421 existing warrants were exercised at $0.60 per share; new warrants cover up to 4,800,526 shares, creating potential dilution and likely pressuring the stock.
• Worksport expects approximately $2.30 million in gross proceeds for general corporate and working-capital purposes.
• The stock fell 8.73% to $0.57 on August 28, while broader pre-market markets were mixed.