Hitek Global Prices 100M Shares at $0.03 to Raise $3 Million
Hitek Global is selling 100 million Class A shares or pre-funded warrants at $0.03 each to raise approximately $3 million before fees. The registered direct offering, conducted under a shelf registration effective May 29, 2024, is expected to close on or about March 30, 2026, subject to customary conditions.
1. Registered Direct Offering Terms
Hitek Global has entered into agreements to sell 100 million Class A ordinary shares, or pre-funded warrants in lieu thereof, at $0.03 per share. The gross proceeds to the company from this offering are estimated at approximately $3 million before placement agent fees and other expenses.
2. Closing Timeline and Placement Agent
The offering is expected to close on or about March 30, 2026, subject to satisfaction of customary closing conditions. Univest Securities, LLC is acting as the sole placement agent for the transaction.
3. Shelf Registration Authorization
This registered direct offering is being made pursuant to a shelf registration statement on Form F-3, which became effective on May 29, 2024. A final prospectus supplement detailing the terms of the offering will be filed and made available electronically.
4. Company Profile and Strategy
Hitek Global Inc., headquartered in Xiamen, China, provides IT consulting and solutions services across two business lines: anti-counterfeiting tax control systems and services for SMEs, and hardware and software sales to large businesses. The company plans to expand its system integration services and develop an online service platform to enhance its one-stop consulting vision.