Business Context and Reporting Period
Company: HiTek Global Inc.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: October 2025 (Specifically dated October 9, 2025)
Principal Executive Offices: Xiamen City, Fujian Province, People's Republic of China (Incorporated in Cayman Islands)
Key Financial Metrics and Capital Structure
This filing does not report operational financial metrics such as revenue, profit, cash flow, margins, or debt levels. The document focuses exclusively on a capital raising transaction.
| Metric | Value |
|---|---|
| Maximum Offering Size (Shares) | 15,075,376 Class A Ordinary Shares |
| Maximum Offering Size (Value) | $30,000,000 |
| Initial Limitation (Shares) | 2,011,787 Class A Ordinary Shares |
| Initial Limitation (Value) | $4,003,458 |
| Reference Share Price | $1.99 (Nasdaq Capital Market, Sept 11, 2025) |
| Sales Agent Commission | 3.5% of gross proceeds |
| Expense Reimbursement Cap | $70,000 |
Material Changes
On October 8, 2025, the Company entered into a Sales Agreement with AC Sunshine Securities LLC to establish an "At The Market" (ATM) Offering Program. This agreement allows the Company to sell shares from time to time through the Sales Agent. The initial sales are subject to a limitation of approximately $4.0 million based on the September 11, 2025 closing price, though the total program capacity is $30.0 million.
Guidance, Outlook, and Risks
- Management Commentary: The Company is not obligated to sell any securities, and the Sales Agent is not obligated to purchase any securities on a principal basis. Sales will be made based on the Company's instructions regarding price, time, and size.
- Methodology: Sales will be conducted via "at the market offerings" as defined under Rule 415(a)(4) of the Securities Act of 1933.
- Risks and Contingencies: The filing notes that the report does not constitute an offer to sell in jurisdictions where such an offer would be unlawful without registration. The summary of the agreement is qualified by reference to the full text of the Sales Agreement.
Investor Verification Checklist
- Verify the current trading volume and price of HiTek Global Inc. Class A Ordinary Shares on the Nasdaq Capital Market to assess potential dilution impact.
- Review the full text of the Sales Agreement (Exhibit 10.1) for specific termination rights and detailed pricing mechanisms.
- Confirm the Company's current cash position and liquidity needs to understand the urgency of utilizing the ATM program.
- Check for any subsequent filings indicating the actual volume of shares sold under this program since October 8, 2025.