SCHEDULE 13G/A: Armistice Capital Discloses 4.99% Passive Stake in Worksport Ltd.

Armistice Capital, LLC and Steven Boyd have filed an amended Schedule 13G, reporting a 4.99% beneficial ownership stake in Worksport Ltd. as of December 31, 2024.

Summary

• Armistice Capital, LLC and Steven Boyd, collectively referred to as the 'Reporting Persons,' have filed an Amendment No. 2 to Schedule 13G regarding their beneficial ownership in Worksport Ltd.
• The Reporting Persons beneficially own an aggregate of 1,729,909 shares of Worksport Ltd's Common Stock.
• This ownership represents 4.99% of the total class of securities.
• Armistice Capital, LLC, a Delaware entity, and Steven Boyd, a U.S. citizen, share both voting and dispositive power over all 1,729,909 shares.
• The shares are directly held by Armistice Capital Master Fund Ltd., a Cayman Islands exempted company and an investment advisory client of Armistice Capital, LLC.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Worksport Ltd.

Sentiment

Score: 5

Explanation: This document is a factual regulatory disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing is a standard regulatory disclosure of passive beneficial ownership by an investment firm, providing transparency to the market regarding significant shareholders. It does not offer insights into broader industry trends or competitive positioning beyond the fact that an investment firm holds a stake in Worksport Ltd.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake in the company, confirming a passive investment approach.
• Company Management: Informs management of a substantial, non-activist shareholder, which can influence investor relations strategies.

Key Dates

Keywords

Worksport Ltd, Armistice Capital, Steven Boyd, Schedule 13G, Beneficial Ownership, Common Stock, Investment Management, SEC Filing