Worksport Ltd Notified of Nasdaq Minimum Bid-Price Noncompliance

What Happened
Worksport Ltd (WKSP) announced in an 8-K that on August 13, 2026 it received notice from the Nasdaq Listing Qualifications Department that, based on the closing bid price for the 30 consecutive business days from July 1, 2026 through August 12, 2026, the company does not meet Nasdaq Listing Rule 5550(a)(2)’s $1.00 minimum bid-price requirement. Under Nasdaq Listing Rule 5810(c)(3)(A), Worksport has 180 calendar days — until February 9, 2027 — to regain compliance by achieving a closing bid of at least $1.00 per share for a minimum of 10 consecutive business days. The notice does not affect current listing or trading; WKSP will continue to trade on the Nasdaq Capital Market under the symbol “WKSP” during the compliance period.

Key Details

• Notice received: August 13, 2026.
• Deficiency period cited: closing bid price for 30 consecutive business days from July 1, 2026 through August 12, 2026.
• Nasdaq requirement: minimum $1.00 closing bid per Nasdaq Listing Rule 5550(a)(2).
• Cure period: 180 calendar days (until February 9, 2027) to close ≥ $1.00 for at least 10 consecutive business days; potential additional 180-day extension available if other listing standards are met and the company files intent to cure (reverse split may be used).

Why It Matters
This notice puts Worksport on a formal path to regain compliance with Nasdaq’s minimum bid rule. While there is no immediate trading or listing change, failure to meet the cure conditions could lead to delisting proceedings later, which can reduce liquidity and negatively affect shareholder value. The company said it will monitor its stock price and consider options (including a possible reverse stock split) to regain compliance within the allotted period.