Hitek Global Inc. Announces Pricing of $3 Million Registered Direct Offering

Hitek Global (NASDAQ: HKIT) announced a registered direct offering of 100,000,000 Class A shares (or pre-funded warrants) at $0.03 per share, expected to raise approximately $3.0 million in gross proceeds before placement agent fees and expenses.

Rhea-AI Summary

Hitek Global (NASDAQ: HKIT) announced a registered direct offering of 100,000,000 Class A shares (or pre-funded warrants) at $0.03 per share, expected to raise approximately $3.0 million in gross proceeds before placement agent fees and expenses. The offering is expected to close on or about March 30, 2026, subject to customary closing conditions.

Univest Securities is the sole placement agent. The offering is made under a Form F-3 shelf registration (File No. 333-279459) that became effective May 29, 2024; a final prospectus supplement will be filed with the SEC.

Positive

• Gross proceeds of approximately $3.0 million
• Issuance of 100,000,000 shares to raise capital
• Univest Securities engaged as sole placement agent
• Offering uses an existing F-3 shelf registration

Negative

• Large share issuance of 100,000,000 shares may dilute current holders
• Low offering price of $0.03 per share could signal valuation pressure
• Net proceeds reduced by placement agent fees and offering expenses

Argus Mar 27 session

-5.17% close to close Open Argus

Details

News Market Reaction – HKIT

On Mar 27, the day this news came out, HKIT closed 5.17% below the previous close.

Data tracked by StockTitan Argus for the Mar 27 session.

Key Figures

Shares Offered: 100,000,000 shares Offering Price: $0.03 per share Gross Proceeds: Approximately $3 million +3 more

Shares Offered

100,000,000 shares

Class A Ordinary Shares or pre-funded warrants in registered direct offering

Offering Price

$0.03 per share

Pricing for registered direct offering

Gross Proceeds

Approximately $3 million

Before placement agent fees and expenses

Expected Closing Date

March 30, 2026

Planned closing of registered direct offering, subject to conditions

Form F-3 File No.

333-279459

Shelf registration statement reference for this offering

Shelf Effective Date

May 29, 2024

Date Form F-3 shelf registration became effective

Key Terms

registered direct offering, pre-funded warrants, shelf registration statement, Form F-3, +2 more

6 terms

registered direct offering financial

"at an offering price of $0.03 per share in a registered direct offering"

A registered direct offering is a way for a company to sell new shares of its stock directly to select investors with regulatory approval. This method allows the company to raise funds quickly and efficiently without needing a public auction, similar to offering exclusive access to a limited number of buyers. For investors, it often provides an opportunity to purchase shares at a favorable price, while giving the company immediate access to capital.

pre-funded warrants financial

"100,000,000 Shares of Class A Ordinary Shares (the "Shares") (or pre-funded warrants in lieu"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

shelf registration statement regulatory

"The registered direct offering is being made pursuant to a shelf registration statement on Form F-3"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

Form F-3 regulatory

"shelf registration statement on Form F-3 (File No. 333-279459) previously filed"

Form F-3 is a U.S. securities filing that lets eligible foreign companies pre-register and then quickly sell shares or other securities to raise money, because they already meet ongoing reporting and size tests. For investors it signals that the company is up-to-date with regulatory disclosure and has an efficient way to issue new securities — similar to a pre-approved credit line — which can mean faster capital raises but also potential dilution of existing holdings.

prospectus supplement regulatory

"A final prospectus supplement and accompanying prospectus describing the terms"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

placement agent financial

"Univest Securities, LLC is acting as the sole placement agent."

A placement agent is a professional or firm that helps organizations raise money from investors, such as individuals, institutions, or funds. They act like matchmakers, connecting those seeking investments with the right investors and guiding the process to ensure successful funding. For investors, they can provide access to exclusive opportunities and help navigate complex fundraising efforts.

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XIAMEN, China, March 27, 2026 /PRNewswire/ -- Hitek Global Inc. (NASDAQ: HKIT) ("Hitek Global" or the "Company"),a China-based information technology consulting and solutions service provider, today announced that it has entered into securities purchase agreements with certain institutional investors for the purchase and sale of 100,000,000 Shares of Class A Ordinary Shares (the "Shares") (or pre-funded warrants in lieu thereof), at an offering price of $0.03 per share in a registered direct offering (the "Offering").

The gross proceeds to the Company from the registered direct offering are estimated to be approximately $3 million before deducting the placement agent's fees and other estimated offering expenses. The offering is expected to close on or about March 30, 2026, subject to the satisfaction of customary closing conditions.

Univest Securities, LLC is acting as the sole placement agent.

The registered direct offering is being made pursuant to a shelf registration statement on Form F-3 (File No. 333-279459) previously filed by the Company with the U.S. Securities and Exchange Commission ("SEC") and became effective by on May 29, 2024. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Univest Securities, LLC at info@univest.us, or by calling +1 (212) 343-8888.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying base prospectus will be filed by the Company and, upon filing, can be obtained at the SEC's website at www.sec.gov.

About Hitek Global Inc.

Hitek Global Inc., headquartered in Xiamen, China, is an IT consulting and solutions service provider focusing on delivering services to business in various industry sectors in China. As of the date of this annual report, we have two lines of businesses— 1) services to small and medium businesses ("SMEs"), which consists of Anti-Counterfeiting Tax Control System ("ACTCS") tax devices, ACTCS services, and 2) services to large businesses, which consists of hardware sales and software sales. We expect to actively develop our system integration services and online service platform in the near future. Our vision is to become a one-stop consulting destination for holistic IT and other business consulting services in China. For more information, visit the Company's website at http://ir.xmhitek.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and in its other filings with the U.S. Securities and Exchange Commission.

 

View original content:https://www.prnewswire.com/news-releases/hitek-global-inc-announces-pricing-of-3-million-registered-direct-offering-302727483.html

SOURCE Hitek Global Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the terms of Hitek Global's (HKIT) registered direct offering announced March 27, 2026?

Hitek Global is offering 100,000,000 Class A shares at $0.03 per share. According to the company, the registered direct offering may include pre-funded warrants and aims to raise approximately $3.0 million in gross proceeds before fees.

When is the HKIT registered direct offering expected to close and what conditions apply?

The offering is expected to close on or about March 30, 2026, subject to customary closing conditions. According to the company, closing depends on satisfaction of those conditions and final documentation.

How many new shares will HKIT issue and how could that affect existing shareholders?

Hitek Global will issue 100,000,000 shares (or pre-funded warrants) in the offering. According to the company, this large issuance will increase share count and may dilute existing ownership absent offsetting buybacks or growth.

Where can investors find the HKIT prospectus supplement for the March 2026 offering?

The final prospectus supplement and accompanying prospectus will be filed with the SEC and available at www.sec.gov. According to the company, electronic copies will also be available via Univest Securities contact details.

Who is acting as placement agent for Hitek Global's (HKIT) $3 million offering?

Univest Securities, LLC is acting as the sole placement agent for the offering. According to the company, investors can contact Univest for copies of the final prospectus supplement when filed.