HiTek Global Enters Agreement to Sell $8M in Securities
HiTek Global announced that it has entered into a definitive agreement with certain investors for the purchase and sale of an aggregate of approximately $8M of the company's securities, including 4M Class A ordinary shares and 4M warrants at a purchase price of $2.00 per share in a registered direct offering. Each warrant has an exercise price of $4.5678 and is exercisable to purchase 3.8 shares. The aggregate gross proceeds to the company of this offering are expected to be approximately $8M. The transaction is expected to close on or about June 3, subject to the satisfaction of customary closing conditions. Univest Securities is acting as the sole placement agent.
