Elite Express Holding Inc. Announces Closing of $15.2 Million Initial Public Offering

Rhea-AI Summary

Elite Express Holding (NASDAQ:ETS), a California-based last-mile delivery services provider, has successfully completed its Initial Public Offering (IPO). The company sold 3.8 million shares of Class A common stock at $4.00 per share, raising approximately $15.2 million in gross proceeds before deducting underwriting discounts and offering expenses.

The shares began trading on the Nasdaq Capital Market on August 21, 2025. Underwriters have a 45-day option to purchase up to an additional 570,000 shares at the IPO price. Dominari Securities is leading the offering, with Revere Securities as co-underwriter and Pacific Century Securities serving as advisor.

Positive

• Successfully raised $15.2 million through IPO
• Achieved listing on Nasdaq Capital Market
• Underwriters have option to purchase additional 570,000 shares

Negative

• Small IPO size may limit institutional investor interest
• Low share price of $4.00 could suggest higher volatility risk

Insights

Financial Markets Specialist

Elite Express completed its IPO raising $15.2M at $4 per share, marking its entry to Nasdaq with potential for additional capital through underwriter options.

Elite Express Holding Inc. (ETS) has successfully completed its initial public offering, raising $15.2 million in gross proceeds through the issuance of 3,800,000 shares of Class A common stock at $4.00 per share. The California-based last-mile delivery services provider began trading on the Nasdaq Capital Market on August 21 under the ticker symbol "ETS."

This capital raise represents a significant milestone for Elite Express, providing substantial funding for its operations and growth initiatives in the competitive last-mile delivery space. The company has positioned itself in a sector that has seen growing demand with the continued expansion of e-commerce.

The offering structure includes an additional 45-day option granted to underwriters to purchase up to 570,000 additional shares at the initial offering price, which could potentially increase the total gross proceeds by $2.28 million if fully exercised.

The IPO was led by Dominari Securities as the representative underwriter, with Revere Securities serving as co-underwriter and Pacific Century Securities as advisor. The successful completion followed the SEC's approval of their S-1 registration statement on August 20.

For a company operating in the logistics sector, this public market entry provides not only immediate capital but also creates future financing flexibility and enhances brand visibility. As a newly listed entity, Elite Express will now face increased reporting requirements and public market scrutiny while pursuing growth in the last-mile delivery segment, which has become increasingly important in the modern retail ecosystem.

LAGUNA HILLS, Calif., Aug. 22, 2025 (GLOBE NEWSWIRE) -- Elite Express Holding Inc. (ETS), a California-based provider of last-mile delivery services, today announced the closing of its previously announced initial public offering of 3,800,000 shares of Class A common stock. Each share of Class A common stock was sold at an offering price of $4.00 for gross proceeds of approximately $15.2 million, before deducting underwriting discounts and offering expenses. In addition, ETS has granted the underwriters a 45-day option to purchase up to an additional 570,000 shares of Class A common stock at the initial public offering price.

The shares of Class A common stock began trading on The Nasdaq Capital Market on August 21, 2025 under the ticker symbol “ETS.”

Dominari Securities LLC is acting as the representative of the underwriters for the offering, with Revere Securities acting as co-underwriter for the offering. Pacific Century Securities, LLC is acting as the advisor to ETS.

A registration statement on Form S-1, as amended (File No. 333-286965) was filed with the U.S. Securities and Exchange Commission (the “SEC”), which became effective on August 20, 2025. The offering is being made only by means of a prospectus forming part of the effective registration statement. A final prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus relating to this offering may be obtained from Dominari Securities LLC at 725 Fifth Avenue, 23rd Floor, New York, NY 10022, by calling (212) 393-4500 or (800) 299-7618, or by emailing info@dominarisecurities.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Elite Express Holding Inc.

ETS is a Delaware holding company that conducts its operations through its wholly owned subsidiary, JAR Transportation Inc., based in California. ETS provides last-mile delivery services, primarily focused on transporting packages from distribution centers to end customers within defined service areas. Leveraging logistics software to support route planning, driver oversight, and regulatory compliance, ETS is committed to enhancing operational efficiency and service reliability through the use of technology-driven solutions.

Forward-Looking Statements

This press release contains forward-looking statements, including but not limited to statements about the anticipated timing of the offering. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ are detailed in ETS’ filings with the SEC, including the registration statement on Form S-1 under the section “Risk Factors.” ETS undertakes no obligation to update forward-looking statements except as required by law.

For more information, please contact:

Elite Express Holding Inc.
Investor Relations
(949) 758-0650
ir@eliteexpressholding.com

FAQ

How much did Elite Express Holding (ETS) raise in its IPO?

Elite Express Holding raised $15.2 million in gross proceeds through its IPO by selling 3.8 million shares at $4.00 per share.

When did Elite Express Holding (ETS) stock begin trading on Nasdaq?

Elite Express Holding (ETS) shares began trading on the Nasdaq Capital Market on August 21, 2025.

Who are the underwriters for the Elite Express Holding (ETS) IPO?

Dominari Securities is acting as the lead underwriter, with Revere Securities as co-underwriter. Pacific Century Securities is serving as advisor.

What is the additional share purchase option granted to ETS IPO underwriters?

Underwriters have a 45-day option to purchase up to an additional 570,000 shares at the initial public offering price of $4.00.

What business is Elite Express Holding (ETS) in?

Elite Express Holding is a California-based provider of last-mile delivery services.