Hitek Global Executes 1-for-3 Reverse Split on May 29, Adjusts Par Value
HKIT•Hitek Global will execute a 1-for-3 reverse stock split effective May 29, 2026, converting every three Class A shares into one and raising the par value from $0.005 to $0.015. Outstanding Class A shares will drop from 2,324,420 to approximately 774,807 while authorized capital remains $316,000.
1. Reverse Split Implementation
On May 29, 2026, Hitek Global will combine every three Class A Ordinary Shares into one pursuant to a 1-for-3 reverse split, with trading on the Nasdaq Capital Market resuming on a split-adjusted basis under the existing symbol.
2. Impact on Share Capital
The reverse split raises the par value of each Class A share from $0.005 to $0.015, reduces issued Class A shares from 2,324,420 to about 774,807, and preserves the company's total $316,000 authorized capital across reclassified share categories.
3. Authorization and Prior Splits
Shareholders authorized reverse splits at ratios up to 1-for-5,000 in November 2025, and the board previously implemented a 1-for-50 split on April 6, 2026, reflecting ongoing measures to adjust the company’s share structure.
