Hitek Global (HKIT) said Friday it has struck a deal to sell 100 million class A shares at $0.03 per share to some institutional investors in a direct offering.
The firm said it expects to close the offering March 30. Investors can also buy pre-funded warrants in lieu.
Shares were down over 15% in afternoon trading.
Price: 0.05, Change: -0.01, Percent Change: -15.52
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