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Hitek Global Inc. (NASDAQ:HKIT) announced Wednesday that it has entered into a sales agreement with AC Sunshine Securities LLC to offer and sell up to 2,011,787 Class A ordinary shares through an at-the-market (ATM) equity offering program. The aggregate offering price of the shares is up to $4,003,458, based on a closing price of $1.99 per share as reported on the Nasdaq Capital Market on September 11, 2025.
Under the terms of the agreement, AC Sunshine Securities will act as the company’s sales agent and will use commercially reasonable efforts to sell the shares at prevailing market prices, subject to instructions from Hitek Global . The company is not obligated to sell any specific amount of shares, and the sales agent is not required to purchase shares on a principal basis unless otherwise agreed in writing.
Hitek Global will pay a commission of 3.5% of the aggregate gross proceeds from each share sale to AC Sunshine Securities, and has agreed to reimburse the agent for certain expenses up to $70,000. The shares will be issued under the company’s shelf registration statement on Form F-3, which was declared effective by the Securities and Exchange Commission on May 29, 2024.
The ATM program allows Hitek Global to raise capital from time to time by selling shares directly into the market. Any sales under the program will be made in accordance with applicable laws and Nasdaq rules. The company’s principal executive offices are located in Xiamen, Fujian Province, China.
This information is based on a statement from a press release included in a filing with the Securities and Exchange Commission.
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