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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 …
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