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  4. [6-K] HiTek Global Inc. Current Report (Foreign Issuer)

HiTek Global (HKIT) prices $8M registered direct stock and warrant sale

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

HiTek Global Inc. completed a registered direct offering of 4,000,000 Class A ordinary shares, or pre-funded warrants in lieu, at $2.00 per security, together with ordinary warrants. The deal generated $8,000,000 in gross proceeds before fees and expenses.

Each warrant has a $4.5678 exercise price and is exercisable for approximately 3.8 Class A ordinary shares. The company will pay a 7.0% cash fee on gross proceeds plus $100,000 in expenses to the placement agent. Class A ordinary shares outstanding were 846,474 before the transaction and are 19,996,474 after, assuming full exercise of all pre-funded warrants and warrants.

Positive

  • None.

Negative

  • The transaction is highly dilutive, increasing Class A ordinary shares from 846,474 before the deal to 19,996,474 after, assuming full exercise of all pre-funded warrants and ordinary warrants.

Insights

HiTek raises $8M but with a very large potential share count increase.

HiTek Global Inc. used its shelf registration to complete a registered direct offering of 4,000,000 Class A ordinary shares or pre-funded warrants at $2.00, plus ordinary warrants with a $4.5678 exercise price for about 3.8 shares each. Gross proceeds are $8,000,000.

The company will pay a 7.0% cash fee on aggregate gross proceeds and $100,000 of accountable expenses to the placement agent, so net proceeds will be meaningfully below the headline amount. This structure combines immediate equity issuance with additional potential issuance on warrant exercise.

Class A ordinary shares outstanding increase from 846,474 before the transaction to 19,996,474 after, assuming full exercise of pre-funded warrants and warrants. This represents a very large expansion of the share count, making dilution a central consideration for existing holders while providing the company with additional capital.

Securities sold 4,000,000 Class A ordinary shares or pre-funded warrants Aggregate amount in registered direct offering on June 2, 2026
Offering price $2.00 per Class A share or pre-funded warrant Purchase price in registered direct offering
Gross proceeds $8,000,000 Aggregate gross proceeds to company from offering
Warrant exercise price $4.5678 per share Exercise price of ordinary warrants
Warrant coverage Approximately 3.8 shares per warrant Each warrant exercisable for ~3.8 Class A shares
Placement fee 7.0% of gross proceeds Cash fee payable to placement agent
Accountable expenses $100,000 Additional payment to placement agent
Shares outstanding post-deal 19,996,474 Class A ordinary shares Assuming full exercise of pre-funded warrants and warrants
registered direct offering financial
"for the purchase and sale, in a registered direct offering (the “Offering”), of an aggregate of 4,000,000 Class A ordinary shares"
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
"Class A ordinary shares ... or pre-funded warrants in lieu thereof (the “Pre-Funded Warrants”)"
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.
ordinary warrants financial
"together with ordinary warrants to purchase Class A Ordinary Shares (the “Warrants”)"
A warrant that gives its holder the right to buy ordinary shares (common stock) at a fixed price for a set period. Think of it as a coupon that lets an investor purchase a share later at a predetermined price; if the market price rises above that price the coupon is valuable, otherwise it may expire worthless. Investors care because exercising warrants can amplify gains but also dilute existing shareholders by increasing the number of shares outstanding.
reasonable best efforts basis financial
"to act as the Company’s placement agent in connection with the Offering on a reasonable best efforts basis"
prospectus supplement regulatory
"The Securities were offered and issued pursuant to a prospectus supplement dated June 3, 2026 filed with the U.S. Securities and Exchange Commission"
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.
Registration Statement on Form F-3 regulatory
"supplementing the prospectus included in the Company’s Registration Statement on Form F-3 (Registration No. 333-279459)"
A registration statement on Form F-3 is a streamlined filing used by eligible foreign companies to register securities for sale in the U.S., often as a “shelf” that lets them offer shares quickly when market conditions are right. For investors it matters because it signals that the company can raise capital on short notice—potentially increasing liquidity but also the risk of share dilution if new stock is issued—similar to a company keeping a pre-approved credit line ready to use.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What capital did HiTek Global Inc. (HKIT) raise in this transaction?
HiTek Global raised $8,000,000 in gross proceeds through a registered direct offering. It sold 4,000,000 Class A ordinary shares or pre-funded warrants at $2.00 each, together with ordinary warrants exercisable at $4.5678 per share.

How many HiTek Global (HKIT) shares were issued and what are the prices?
The company offered 4,000,000 Class A ordinary shares, or pre-funded warrants in lieu, at $2.00 per security. Attached ordinary warrants carry an exercise price of $4.5678 and are exercisable for approximately 3.8 Class A ordinary shares each.

What are the placement agent fees in HiTek Global’s June 2026 offering?
HiTek Global agreed to pay the placement agent a 7.0% cash fee on aggregate gross proceeds. In addition, it will pay $100,000 for accountable expenses, reducing the net capital the company ultimately receives from the $8,000,000 gross raise.

How does the offering affect HiTek Global (HKIT) shares outstanding?
Class A ordinary shares outstanding were 846,474 before the transaction. They rise to 19,996,474 after the offering, assuming full exercise of all pre-funded warrants and ordinary warrants, representing a very large increase in the company’s share count.

When did HiTek Global’s registered direct offering close and under what registration?
The offering closed on June 3, 2026 under a prospectus supplement filed pursuant to Rule 424(b)(5). It relies on HiTek Global’s effective Form F-3 shelf registration statement with file number 333-279459, originally declared effective on May 29, 2024.

What types of securities did HiTek Global (HKIT) issue in this deal?
HiTek Global issued a mix of Class A ordinary shares, pre-funded warrants in lieu of shares, and ordinary warrants. Each ordinary share or pre-funded warrant was sold at $2.00, with the ordinary warrants exercisable at $4.5678 for about 3.8 shares.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of June 2026

 

Commission File Number 001-39339

 

HiTek Global Inc.

(Translation of registrant’s name into English)

 

Unit 304, No. 30 Guanri Road, Siming District

Xiamen City, Fujian Province, People’s Republic of China

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒            Form 40-F ☐

 

 

 

 

 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

 

On June 2, 2026, Hitek Global Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain investors for the purchase and sale, in a registered direct offering (the “Offering”), of an aggregate of 4,000,000 Class A ordinary shares, par value $0.015 per share, of the Company (the “Class A Ordinary Shares”), or pre-funded warrants in lieu thereof (the “Pre-Funded Warrants”), together with ordinary warrants to purchase Class A Ordinary Shares (the “Warrants,” and together with the Class A Ordinary Shares and the Pre-Funded Warrants, the “Securities”). Each Class A Ordinary Share or Pre-Funded Warrant in lieu thereof was sold at a purchase price of $2.00. Each Warrant has an exercise price of $4.5678 per Class A Ordinary Share and is exercisable to purchase approximately 3.8 Class A Ordinary Shares. The aggregate gross proceeds to the Company from the Offering were $8,000,000, before deducting placement agent fees and other offering expenses and excluding any proceeds that may be received upon the exercise of the Warrants.

 

Pursuant to a placement agency agreement (the “Placement Agency Agreement”) dated as of June 2, 2026, between the Company and Univest Securities, LLC (the “Placement Agent”), the Company engaged the Placement Agent to act as the Company’s placement agent in connection with the Offering on a reasonable best efforts basis. Pursuant to the Placement Agency Agreement, the Company agreed to pay the Placement Agent a cash fee equal to seven percent (7.0%) of the aggregate gross proceeds raised in the Offering. In addition, the Company paid the Placement Agent $100,000 for accountable expenses.

  

The Offering closed on June 3, 2026.

 

The Securities were offered and issued pursuant to a prospectus supplement dated June 3, 2026 filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(5), supplementing the prospectus included in the Company’s Registration Statement on Form F-3 (Registration No. 333-279459), which was filed with the U.S. Securities and Exchange Commission on May 16, 2024 and declared effective on May 29, 2024.

 

Maples and Calder (Cayman) LLP, Cayman Islands counsel to the Company, has issued an opinion to the Company regarding the validity of the Securities. A copy of the opinion is furnished as Exhibit 5.1 to this Report of Foreign Private Issuer on Form 6-K.

 

There were 846,474 Class A Ordinary Shares outstanding immediately prior to this Offering. There were 19,996,474 Class A Ordinary Shares outstanding immediately after this Offering, assuming the full exercise of the Pre-Funded Warrants and the Warrants.

 

The foregoing descriptions of the Purchase Agreement, the Placement Agency Agreement, the Pre-Funded Warrants, and the Warrants do not purport to be complete and are qualified in their entirety by reference to the full text of such documents, which are furnished as Exhibits 10.1, 10.2, 10.3 and 10.4, respectively, to this Report of Foreign Private Issuer on Form 6-K. This Report on Form 6-K, including Exhibits 5.1, 10.1, 10.2, 10.3 and 10.4 hereto, is hereby incorporated by reference into the Company’s Registration Statement on Form F-3 (Registration No. 333-279459).

 

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EXHIBIT INDEX

 

Exhibit
No.		   Description of Exhibit
5.1   Opinion of Maples and Calder (Cayman) LLP
10.1   Form of Securities Purchase Agreement
10.2   Form of Placement Agency Agreement
10.3   Form of Pre-Funded Warrant
10.4   Form of Ordinary Warrant

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: June 4, 2026

 

HiTek Global Inc.  
     
By: /s/ Xiaoyang Huang  
  Xiaoyang Huang  
  Chief Executive Officer  
  (Principal Executive Officer)  

 

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Source: View Original Filing on SEC EDGAR

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