HiTek Global (NASDAQ: HKIT) sells shares, prefunded warrants in $3M deal

Rhea-AI Filing Summary

HiTek Global Inc. completed a registered direct offering, raising an initial aggregate subscription amount of $3,000,000 through new equity securities. The company sold 1,500,000 Class A Ordinary Shares at $0.03 per share and Pre-Funded Warrants to purchase up to 98,500,000 Class A Ordinary Shares at an exercise price of $0.0001 per share, priced at $0.0299 per warrant.

There were 26,969,375 Class A Ordinary Shares outstanding immediately before the transaction and 126,969,375 outstanding immediately after, assuming full exercise of the Pre-Funded Warrants. The purchaser may buy additional shares and/or warrants in further closings up to 200% of the initial aggregate subscription amount. Univest Securities, LLC acted as placement agent on a reasonable best efforts basis, earning a 7.0% cash fee, a 1.0% expense allowance on gross proceeds, and $100,000 in accountable expenses.

Positive

• None.

Negative

• Full exercise of the Pre-Funded Warrants would increase Class A Ordinary Shares outstanding from 26,969,375 to 126,969,375, representing a substantial potential dilution for existing shareholders.

Insights

Equity capital markets analyst

HiTek raises $3M but adds very large potential share overhang.

HiTek Global secured an initial aggregate subscription amount of $3,000,000 via a registered direct sale of 1.5 million shares and 98.5 million Pre-Funded Warrants. Pricing at around $0.03 per share signals a small-cap style capital raise at a low absolute price.

If all Pre-Funded Warrants are exercised, Class A Ordinary Shares outstanding rise from 26,969,375 to 126,969,375, a substantial increase in share count that existing holders may view as materially dilutive. The purchaser can also participate in additional closings up to 200% of the initial subscription amount, which could further expand equity issuance.

Univest Securities, LLC receives an 8.0% combined cash and expense allowance on gross proceeds plus $100,000 in accountable expenses, typical of small registered direct deals. An 18‑month right of first refusal gives Univest a preferred role in certain future financings disclosed for periods after March 27, 2026.

Key Figures

Initial aggregate subscription amount: $3,000,000 Class A Ordinary Shares sold: 1,500,000 shares Pre-Funded Warrants issued: 98,500,000 warrants +5 more

8 metrics

Initial aggregate subscription amount $3,000,000 Registered direct offering of shares and Pre-Funded Warrants

Class A Ordinary Shares sold 1,500,000 shares Sold at $0.03 per share in the offering

Pre-Funded Warrants issued 98,500,000 warrants Each warrant exercisable for one Class A Ordinary Share

Share purchase price $0.03 per share Price for Class A Ordinary Shares in the offering

Warrant purchase price $0.0299 per warrant Equals share price minus $0.0001 exercise price

Warrant exercise price $0.0001 per share Exercise price for each Pre-Funded Warrant share

Shares outstanding before offering 26,969,375 shares Class A Ordinary Shares immediately prior to offering

Shares outstanding after full exercise 126,969,375 shares Class A Ordinary Shares assuming full warrant exercise

Key Terms

registered direct offering, Pre-Funded Warrants, right of first refusal, reasonable best efforts basis, +2 more

6 terms

registered direct offering financial

"Class A Ordinary Shares and Pre-Funded Warrants ... 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

"Pre-Funded Warrants to purchase up to 98,500,000 Class A Ordinary Shares"

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.

right of first refusal financial

"the Company granted the Placement Agent a right of first refusal for a period of eighteen (18) months"

A right of first refusal gives an existing shareholder or party the chance to buy an asset or shares before the owner can sell them to someone else. Think of it like being offered the first option to buy a house when the owner decides to sell; it matters to investors because it can limit who can acquire a stake, slow or block transactions, and affect the price and liquidity of an investment by restricting open-market sales or new buyers.

reasonable best efforts basis financial

"Placement Agent to act as the Company’s placement agent in connection with the Offering on a reasonable best efforts basis"

Registration Statement on Form F-3 regulatory

"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.

non-accountable expense allowance financial

"a non-accountable expense allowance equal to one percent (1.0%) of the aggregate gross proceeds"

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

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FAQ

What did HiTek Global Inc. (HKIT) announce in this Form 6-K?

HiTek Global announced a registered direct offering raising an initial aggregate subscription amount of $3,000,000. It sold 1,500,000 Class A Ordinary Shares and issued Pre-Funded Warrants to purchase up to 98,500,000 Class A Ordinary Shares at very low per-share prices.

How many shares and warrants did HiTek Global (HKIT) issue and at what prices?

HiTek Global issued 1,500,000 Class A Ordinary Shares at $0.03 per share and Pre-Funded Warrants for up to 98,500,000 shares at $0.0299 per warrant, with each warrant having a $0.0001 per-share exercise price, creating a large potential future share issuance.

How does this offering affect HiTek Global’s (HKIT) share count?

Before the transaction, HiTek Global had 26,969,375 Class A Ordinary Shares outstanding. Assuming full exercise of all Pre-Funded Warrants, outstanding Class A Ordinary Shares would rise to 126,969,375, meaning a very significant increase in the company’s equity base.

What compensation does Univest Securities receive in the HiTek Global (HKIT) offering?

Univest Securities, LLC earns a cash fee of 7.0% of aggregate gross proceeds and a non-accountable expense allowance of 1.0%. In addition, HiTek Global paid Univest $100,000 in accountable expenses under the placement agency agreement for this registered direct offering.

What additional purchase rights does the investor have in the HiTek Global (HKIT) deal?

Under Section 2.4 of the purchase agreement, the purchaser may buy additional Class A Ordinary Shares and/or Pre-Funded Warrants. The aggregate amount in additional closings can reach up to 200% of the aggregate subscription amount purchased in the initial sale, expanding potential future financing size.

What special right did HiTek Global (HKIT) grant Univest Securities for future financings?

HiTek Global granted Univest Securities an 18‑month right of first refusal from March 27, 2026. This allows Univest to act as sole book-running manager, underwriter, placement agent, sales agent, or financial advisor for certain future public or private offerings, subject to specified conditions.

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 March 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 March 27, 2026, Hitek Global Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with that certain purchaser (the “Purchaser”) for the purchase and sale of 1,500,000 Class A Ordinary Shares of the Company (the “Class A Ordinary Shares”) and Pre-Funded Warrants to purchase up to 98,500,000 Class A Ordinary Shares (the “Pre-Funded Warrants,” and together with the Class A Ordinary Shares, the “Securities”) in a registered direct offering (the “Offering”). The Class A Ordinary Shares were sold at a purchase price of $0.03 per share, and the Pre-Funded Warrants were sold at a purchase price of $0.0299 per warrant, which equals the purchase price per Class A Ordinary Share minus the $0.0001 per share exercise price of each Pre-Funded Warrant, for an initial aggregate subscription amount of $3,000,000, before deducting placement agent fees and expenses. In addition, pursuant to Section 2.4 of the Purchase Agreement, the Purchaser has the right to purchase, in one or more additional closings, additional Class A Ordinary Shares and/or Pre-Funded Warrants in an aggregate amount of up to 200% of the aggregate subscription amount purchased in the initial sale.

Pursuant to a placement agency agreement (the “Placement Agency Agreement”) dated as of March 27, 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 and a non-accountable expense allowance equal to one percent (1.0%) of the aggregate gross proceeds raised in the Offering. In addition, the Company paid the Placement Agent $100,000 for accountable expenses. Pursuant to the Placement Agency Agreement, the Company granted the Placement Agent a right of first refusal for a period of eighteen (18) months following March 27, 2026 to act as sole book-running manager, sole underwriter, sole placement agent, sole sales agent or sole financial advisor, as applicable, in connection with certain future public and private offerings and other financings of the Company, subject to the terms and conditions set forth therein.

The Offering closed on March 31, 2026.

The Securities were offered and issued pursuant to a prospectus supplement dated March 27, 2026 filed to 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 26,969,375 Class A Ordinary Shares outstanding immediately prior to this Offering. There will be 126,969,375 Class A Ordinary Shares outstanding immediately after this Offering, assuming the full exercise of the Pre-Funded Warrants to purchase up to 98,500,000 Class A Ordinary Shares.

The foregoing descriptions of the Purchase Agreement, the Placement Agency Agreement, and the Pre-Funded 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 and 10.3, respectively, to this Report of Foreign Private Issuer on Form 6-K.

1

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

2

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: March 31, 2026

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

3

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 FORM OF SECURITIES PURCHASE AGREEMENT 247.2 KB
• EX-10.2 FORM OF PLACEMENT AGENCY AGREEMENT 74.2 KB
• EX-10.3 FORM OF PRE-FUNDED WARRANT 99.2 KB

Other Documents

• EX-5.1 OPINION OF MAPLES AND CALDER (CAYMAN) LLP 35.2 KB