Elauwit Announces Pricing of $15.0 Million Initial Public Offering

Rhea-AI Summary

Elauwit (NASDAQ: ELWT) priced a firm commitment initial public offering of 1,667,000 shares at $9.00 per share, producing gross proceeds of approximately $15.0 million before underwriting discounts and offering expenses. The shares are expected to begin trading on the Nasdaq Capital Market under ticker ELWT at market open on November 5, 2025, with the offering expected to close on November 6, 2025 subject to customary closing conditions.

The company granted the underwriters a 45-day option to purchase up to an additional 250,050 shares. Net proceeds are intended for debt repayment, project deployments, sales and marketing development, deferred compensation, working capital and general corporate purposes. Craig-Hallum Capital Group LLC is sole bookrunner.

Positive

• Gross proceeds of approximately $15.0 million
• Shares priced at $9.00 per share
• Expected Nasdaq listing on Nov 5, 2025 under ELWT
• Net proceeds earmarked for debt repayment and projects

Negative

• Underwriting discounts and offering expenses will reduce net proceeds
• Underwriters hold a 45-day option to buy 250,050 additional shares

Insights

Capital Markets Analyst

Elauwit priced a $15.0 million IPO at $9.00 per share; trading begins November 5, 2025.

Elauwit offers 1,667,000 shares in a firm commitment IPO generating gross proceeds of $15.0 million before fees and a 45‑day over‑allotment option for 250,050 shares. The company states net proceeds will fund debt repayment, project deployments, sales and marketing, deferred compensation, working capital and general corporate purposes, with expected closing on November 6, 2025.

Structurally, this is a routine capital raise that improves liquidity and reduces leverage by design; the balance between debt repayment and growth spend determines near‑term financial impact. Key dependencies include the final net proceeds after underwriting discounts, whether the over‑allotment is exercised, and execution of stated deployment plans; these factors materially affect cash runway and operating flexibility.

Watch the actual net proceeds disclosed in the final prospectus, any exercise of the overallotment option within 45 days, and early trading liquidity starting November 5, 2025. Expect clarity on use‑of‑proceeds and closing statements by the November 6, 2025 close; those disclosures will most directly change the event's investment significance over the coming weeks.

Columbia, South Carolina--(Newsfile Corp. - November 4, 2025) - Elauwit Connection, Inc. ("Elauwit" or the "Company") today announced the pricing of its firm commitment initial public offering of an aggregate of 1,667,000 shares of its common stock (the "Offering") at $9.00 per share.

The gross proceeds to Elauwit from the Offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Elauwit, are expected to be approximately $15.0 million without the exercise of the underwriters' over-allotment option.

The shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol "ELWT" at the open of the market on November 5, 2025. The Offering is expected to close on November 6, 2025, subject to customary closing conditions.

Elauwit intends to use the net proceeds from the offering for debt repayment, project deployments, sales and marketing organizational development, payment of deferred compensation, working capital and general corporate purposes.

In connection with the Offering, the Company has granted the underwriters a 45-day option to purchase up to an additional 250,050 shares of its common stock at the initial public offering price, less underwriting discounts and commissions.

Craig-Hallum Capital Group LLC is acting as sole bookrunner for the Offering. Harter Secrest & Emery LLP is acting as legal counsel to the Company, and Pryor Cashman LLP is acting as legal counsel to the underwriters for the Offering.

The Offering is being conducted pursuant to the Company's registration statement on Form S-1 (File No. 333-289964) 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 is being made only by means of a preliminary prospectus. Before you invest, you should read the preliminary prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. You may get these documents for free by visiting the SEC's website at www.sec.gov. Alternatively, electronic copies of the preliminary 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. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC's website at www.sec.gov.

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.

Forward-Looking Statements

Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements." These statements include, but are not limited to, statements relating to the expected proceeds, trading commencement and timing of closing. The words "estimate," "expect," "intend," "will," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Elauwit specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

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/273117

FAQ

How many shares did Elauwit offer in the initial public offering (ELWT)?

Elauwit priced a firm offering of 1,667,000 shares.

What was the IPO price per share for Elauwit (ELWT)?

The initial public offering was priced at $9.00 per share.

When will Elauwit (ELWT) begin trading on Nasdaq?

Shares are expected to begin trading on the Nasdaq Capital Market on November 5, 2025.

How much gross proceeds will Elauwit raise in the IPO?

Gross proceeds are expected to be approximately $15.0 million before fees and expenses.

What can Elauwit (ELWT) use the IPO proceeds for?

Proceeds are intended for debt repayment, project deployments, sales and marketing development, deferred compensation, working capital and general corporate purposes.

Is there an over-allotment option in the Elauwit IPO (ELWT)?

Yes. The company granted underwriters a 45-day option to purchase up to 250,050 additional shares at the IPO price.