Welcome to our dedicated page for WKSPD news (Ticker: WKSPD), a resource for investors and traders seeking the latest updates and insights on WKSPD stock.
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Worksport Ltd (Nasdaq: WKSP; WKSPW) is relocating to a new 55,000 sq ft headquarters and manufacturing facility at 7299 East Danbro Crescent, Mississauga, Ontario. This move supports the growing tonneau cover business, enabling improved manufacturing processes for the TerraVis solar-powered tonneau cover and COR battery systems. The facility will also automate production processes, addressing labor challenges. Worksport aims to enhance its manufacturing capabilities and will keep investors updated on operational progress.
Worksport Ltd. (Nasdaq: WKSP; WKSPW) announced the development of a new EV-related product called NPEV, aimed at transforming the green energy market. This initiative aims to support the decarbonization of transportation. With a strong engineering team, Worksport plans to update investors on its capital allocation for long-term growth. Currently, the company holds approximately $29 million in cash, equating to around $2 per share, and is positioned for future growth in the EV and sustainable energy sectors.
Worksport Ltd. (Nasdaq: WKSP, WKSPW) announced the closing of a public offering of 3,272,727 units at $5.50 per unit, generating approximately $18 million in gross proceeds. Each unit comprises one share of common stock and a warrant to purchase one share at an exercise price of $6.05, which began trading on Nasdaq on August 4, 2021. The offering included a 45-day option for underwriters to purchase additional shares. The announcement follows a 1-for-20 reverse stock split effective on August 4, 2021.
