AcquisitionsAug 6, 2026, 05:28 PM
HiTek Global to Acquire Ju Fu Limited for $20M
AI Summary
HiTek Global Inc. announced it has entered into a Share Purchase Agreement to acquire Ju Fu Limited, an advertising and digital marketing company, for a total purchase price of US$20,000,000. The consideration comprises up to US$14,000,000 in cash and 4,000,000 Class A ordinary shares valued at US$6,000,000. This acquisition is expected to expand HiTek's business into new segments, with the first closing anticipated around August 11, 2026.
Key Highlights
- HiTek Global Inc. to acquire Ju Fu Limited, an advertising and digital marketing company.
- Total purchase price is US$20,000,000.
- Consideration includes up to US$14,000,000 in cash.
- Consideration also includes 4,000,000 Class A ordinary shares, valued at US$6,000,000.
- Cash consideration includes US$11,000,000 at closing and up to US$3,000,000 deferred.
- Acquisition expected to close in two tranches, with the first around August 11, 2026.
Price Impact
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