HiTek Global Announces $8M Registered Direct Offering Of 4M Shares, With 4M Warrants At A Combined Purchase Price Of $2

HiTek Global Inc. Ltd (NASDAQ:HKIT) (the "Company"), today announced that it has entered into a definitive agreement with certain investors for the purchase and sale of an aggregate of approximately $8.0 million of the Company's securities, including 4,000,000 Class A ordinary shares, par value $0.015 per share (the "Shares") (or pre-funded warrants in lieu thereof), and 4,000,000 warrants (the "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 $8,000,000. The transaction is expected to close on or about June 3, 2026, subject to the satisfaction of customary closing conditions.

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