SCHEDULE 13G: Rapid Proceed Limited Acquires Significant 14.7% Stake in Hitek Global Inc. Through Private Placement
Beneficial Ownership Report
Rapid Proceed Limited has disclosed a 14.7% beneficial ownership stake in Hitek Global Inc., acquired through a private placement of Class A ordinary shares and warrants.
Summary
- Rapid Proceed Limited acquired a total beneficial ownership of 3,636,000 Class A ordinary shares in Hitek Global Inc.
- This ownership represents 14.7% of Hitek Global Inc.'s Class A ordinary shares outstanding.
- The acquisition occurred on July 29, 2024, through a private placement.
- The beneficial ownership includes 1,818,000 Class A ordinary shares purchased directly and 1,818,000 Class A ordinary shares underlying warrants.
- The percentage ownership is calculated based on 21,107,364 Class A ordinary shares issued and outstanding as of the report date, assuming full exercise of the warrants.
- Rapid Proceed Limited states that the securities were not acquired with the purpose or effect of changing or influencing the control of Hitek Global Inc.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of a significant ownership stake, indicating a passive investment without intent to influence control, and does not contain performance-related information.
Future Outlook
NA
Management Comments
- "The Reporting Person has not acquired the securities with any purpose, or with the effect, of changing or influencing the control of the Issuer, or in connection with or as a participant in any transaction having that purpose or effect, including any transaction subject to Rule 13d-3(b)."
- "Huoyuan Chen, as Chairman and Director of Rapid Proceed Limited, may be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the Issuer's securities described herein."
- "Huan Liu disclaims beneficial ownership of these securities for all other purposes."
Industry Context
NA
Key Dates
| Date | Description |
|---|---|
| 07/29/2024 | Date of event which required the filing of this statement (acquisition of shares and warrants). |
| 01/10/2025 | Date the Schedule 13G statement was signed. |
Keywords
Hitek Global Inc., Rapid Proceed Limited, Class A Ordinary Shares, Schedule 13G, beneficial ownership, private placement, warrants, SEC filing
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