HiTek Global Inc. has announced the completion of a private placement, issuing 14,907,000 Class A ordinary shares and warrants to purchase up to an additional 14,907,000 Class A ordinary shares. The transaction was conducted pursuant to a Securities Purchase Agreement with certain institutional investors. The warrants, which have been amended and restated, include a beneficial ownership cap that prevents any holder from exercising the warrants to the extent that such exercise would result in the holder owning more than 9.99% of the company's outstanding ordinary shares immediately after the exercise. Further details can be found in the company's filings with the U.S. Securities and Exchange Commission.
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