InvestmentJun 4, 2026, 04:32 PM
HiTek Global raises $8M in direct offering of 4M shares & warrants
AI Summary
HiTek Global Inc. completed a registered direct offering on June 3, 2026, raising $8 million in gross proceeds. The company sold 4,000,000 Class A ordinary shares or pre-funded warrants, along with ordinary warrants, at a purchase price of $2.00 per share/pre-funded warrant. Univest Securities, LLC acted as the placement agent, receiving a 7.0% cash fee and $100,000 for accountable expenses.
Key Highlights
- HiTek Global raised $8,000,000 in gross proceeds from a registered direct offering.
- The company sold 4,000,000 Class A ordinary shares or pre-funded warrants.
- Each Class A Ordinary Share or Pre-Funded Warrant was sold at $2.00.
- Ordinary warrants were issued with an exercise price of $4.5678 per share.
- Placement agent Univest Securities received a 7.0% cash fee and $100,000 for expenses.
- Class A Ordinary Shares outstanding increased from 846,474 to 19,996,474 post-offering (assuming full exercise of warrants).
Price Impact
More from HKIT