Elauwit Announces Closing of $15.0 Million Initial Public Offering
Rhea-AI Summary
Elauwit (NASDAQ: ELWT) closed its initial public offering on November 6, 2025, selling 1,667,000 shares at $9.00 per share for gross proceeds of approximately $15.0 million before underwriting discounts and offering expenses. The company's shares began trading on the Nasdaq Capital Market under ticker ELWT on November 5, 2025.
Craig-Hallum Capital Group acted as sole bookrunner. The registration statement (Form S-1, File No. 333-289964) was filed August 29, 2025, and became effective November 2, 2025. Prospectus copies are available from Craig-Hallum or the SEC website.
Positive
- Gross proceeds of approximately $15.0 million
- Shares listed on Nasdaq Capital Market under ticker ELWT
- Craig-Hallum served as sole bookrunner for the offering
Negative
- Proceeds reported before underwriting discounts and expenses
- No disclosed net proceeds or use-of-proceeds detail in release
News Market Reaction
On the day this news was published, ELWT gained 9.86%, reflecting a notable positive market reaction. Argus tracked a peak move of +87.1% during that session. Argus tracked a trough of -2.7% from its starting point during tracking. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $5M to the company's valuation, bringing the market cap to $53M at that time.
Data tracked by StockTitan Argus on the day of publication.
Columbia, South Carolina--(Newsfile Corp. - November 6, 2025) - Elauwit Connection, Inc. (NASDAQ: ELWT) ("Elauwit" or the "Company") today announced the closing of its initial public offering of an aggregate of 1,667,000 shares of its common stock (the "Offering") at
The gross proceeds to Elauwit from the Offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Elauwit, were approximately
The shares began trading on the Nasdaq Capital Market under the ticker symbol "ELWT" on November 5, 2025.
Craig-Hallum Capital Group LLC acted as sole bookrunner for the Offering. Harter Secrest & Emery LLP acted as legal counsel to the Company, and Pryor Cashman LLP acted as legal counsel to the underwriters for the Offering.
A registration statement on Form S-1 (File No. 333-289964) relating to the common stock offered and sold in the Offering was initially filed with the U.S. Securities and Exchange Commission ("SEC") on August 29, 2025, which became effective pursuant to Section 8(a) of the Securities Act of 1933, as amended, on November 2, 2025. The Offering was made only by means of a prospectus. You may get these documents for free by visiting the SEC's website at www.sec.gov. Alternatively, electronic copies of the prospectus relating to the Offering may be obtained from Craig-Hallum Capital Group LLC, 323 N. Washington Ave., Suite 300, Minneapolis, MN 55401, Attn: Equity Capital Markets, or by telephone at (612) 334-6300, or by email at prospectus@chlm.com.
This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, and no sale of these securities may be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Elauwit
Elauwit is a national managed services provider that designs, builds, and operates premium broadband and property-wide WiFi networks for multifamily and student housing communities. With a focus on service quality, reliability, and measurable asset value, Elauwit enables property owners to deliver always-on connectivity as a modern amenity and a source of recurring NOI growth.
For more information, visit www.elauwit.com
Contacts:
Elauwit Connection, Inc.
Katie Hayward, VP Marketing
+1-704-558-3099
sales-pr@elauwit.com
Investor Relations:
Matt Kreps, Darrow Associates
+1-214-597-8200
mkreps@darrowir.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273479
FAQ
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