Hitek Global completes $8 million registered direct offering

Hitek Global Inc. (NASDAQ: HKIT) completed an $8 million registered direct offering, according to a statement from Univest Securities, LLC, which served as the sole placement agent for the transaction.

The China-based information technology consulting and solutions service provider sold 4 million Class A ordinary shares at $2.00 per share, along with 4 million warrants. Each warrant carries an exercise price of $4.5678 and is exercisable to purchase 3.8 shares.

The offering was conducted under a shelf registration statement on Form F-3 that was previously filed by the company and declared effective by the Securities and Exchange Commission on May 29, 2024.

Hitek Global operates two business lines: services for small and medium-sized businesses, including Anti-Counterfeiting Tax Control System tax devices and IT services, and services for large businesses involving hardware and software sales. The company is headquartered in Xiamen, China.

Univest Securities, LLC, registered with FINRA since 1994, provides investment banking, brokerage, and wealth management services. The firm states it has raised over $1.8 billion in capital for issuers since 2019 across approximately 100 transactions in various industries.

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