02:44 PM EDT, 03/18/2024 (MT Newswires) -- Worksport ( WKSP ) said it entered into a securities purchase agreement with a single institutional investor to purchase more than 3.85 million shares of common stock in a registered direct offering.

In a concurrent private placement, the company agreed to issue and sell to the investor warrants to purchase up to 7.7 million shares.

The gross proceeds are estimated to be about $2.8 million.

Shares of Worksport ( WKSP ) dropped 32%, with intraday trading volume at more than1.17 million versus a daily average of about 155,000.

Fisker ( FSR ) said Monday that a holder of 2025-dated convertible notes has committed to provide financing of up to $150 million, issued in four tranches, and the company will pause production for six weeks to align inventory levels.

The company also said it's in talks with a large automaker for a potential deal to develop electric vehicle platforms and to manufacture in North America.

Fisker ( FSR ) shares fell 13%, with intraday trading volume at over 232.8 million compared with a daily average of about 67.1 million.

Mizuho downgraded Amylyx Pharmaceuticals' ( AMLX ) stock rating to neutral from buy following negative results from the company's phase 3 study and adjusted its share-price target to $4 from $32.

Amylyx shares lost 9.3% as intraday trading volume climbed to over 4.47 million compared with the stock's daily average of about 2.75 million.

Price: 0.50, Change: -0.24, Percent Change: -32.45