Hitek Global Inc. (NASDAQ:HKIT) jumped 60% in after-hours trading on Monday, rising to $0.064.

HKIT closed the regular session down 27.27% at $0.040, according to Benzinga Pro.

The move followed the company's announcement of a registered direct offering of securities to certain investors.

Offering Raises Capital Through Shares And Warrants

According to Hitek Global, the company is offering 1.5 million Class A ordinary shares at a purchase price of $0.03 per share, along with pre-funded warrants to purchase up to 98.5 million additional shares.

The pre-funded warrants are priced at $0.0299 each, with an exercise price of $0.0001 per share, effectively matching the per-share offering price.

The aggregate subscription amount for the initial sale is $3 million, with the potential for additional closings of up to $6 million under the same agreement.

The offering is being conducted pursuant to a securities purchase agreement dated March 27, 2026, with delivery of the securities expected around March 30, subject to customary closing conditions.

Hitek Global has engaged Univest Securities, LLC as placement agent for the transaction.

Company Structure And Operations

Hitek Global is a Cayman Islands holding company whose operations are conducted in China through subsidiaries and contractual arrangements with a variable interest entity.

The company does not directly own equity in the operating entity but consolidates its financial results under U.S. GAAP through these agreements.

Trading Metrics, Technical Analysis

The company has a market capitalization of $1.07 million, with a 52-week high of $4.18 and a 52-week low of $0.037.

The stock has declined 96.80% over the past year.

HKIT is currently trading just above its 52-week low, indicating it remains near the lower end of its annual range.

Benzinga’s Edge Stock Rankings indicate that HKIT has a negative price trend across all time frames.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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