SCHEDULE 13G: Armistice Capital and Steven Boyd Disclose 9.99% Passive Stake in Worksport Ltd

Armistice Capital, LLC and Steven Boyd have disclosed a 9.99% beneficial ownership stake in Worksport Ltd's common stock, held for passive investment purposes.

Summary

• Armistice Capital, LLC and Steven Boyd (collectively, the "Reporting Persons") have filed a Schedule 13G regarding their beneficial ownership in Worksport Ltd.
• The Reporting Persons collectively beneficially own 492,232 shares of Worksport Ltd. common stock.
• This ownership represents 9.99% of the total class of Worksport Ltd. common stock.
• Both Armistice Capital, LLC and Steven Boyd share voting and dispositive power over all 492,232 shares.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• Armistice Capital, LLC is identified as an investment adviser (IA) and an other institutional investor (OO).
• Steven Boyd is identified as a parent holding company/control person (HC) and an individual (IN).
• The direct holder of the shares is Armistice Capital Master Fund Ltd., a Cayman Islands exempted company, which is an investment advisory client of Armistice Capital.

Sentiment

Score: 7

Explanation: The disclosure of a significant passive stake by a reputable investment firm is generally viewed positively as it indicates institutional confidence and liquidity, without suggesting activist intent that could create uncertainty.

Positives

• Significant institutional investment: Armistice Capital, LLC and Steven Boyd have taken a substantial 9.99% stake, indicating confidence or interest in Worksport Ltd.
• Passive investment intent: The filing explicitly states the shares are held in the ordinary course of business and not for control, suggesting a non-activist, potentially long-term view.

Future Outlook

NA

Industry Context

This filing indicates a significant institutional investment in Worksport Ltd, reflecting a notable stake by Armistice Capital, LLC and Steven Boyd. Such an investment by a prominent investment firm can signal increased institutional interest in the company.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may increase investor confidence and potentially attract further institutional interest, which could positively impact share price and liquidity.

Key Dates

Keywords

Worksport Ltd, Armistice Capital, Steven Boyd, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Passive Investment, SEC Filing, Equity Stake