Elite Express Holding Inc. Announces Pricing of $15.2 Million Initial Public Offering
Rhea-AI Summary
Elite Express Holding Inc. (ETS), a California-based last-mile delivery service provider, has announced the pricing of its initial public offering. The company is offering 3,800,000 shares of Class A common stock at $4.00 per share, aiming to raise approximately $15.2 million in gross proceeds.
The shares will begin trading on the Nasdaq Capital Market under the ticker symbol "ETS" on August 21, 2025. Underwriters have a 45-day option to purchase up to 570,000 additional shares. Dominari Securities LLC is leading the offering, with Revere Securities as co-underwriter and Pacific Century Securities, LLC serving as advisor.
Positive
- IPO provides access to public capital markets for growth
- Listing on Nasdaq Capital Market increases visibility and credibility
- Underwriter option for additional shares indicates potential market confidence
Negative
- Relatively small IPO size of $15.2M may limit growth potential
- Dual-class stock structure could limit public shareholders' voting rights
Insights
Elite Express Holding prices modest $15.2M IPO at $4/share, signaling challenging market entry for last-mile delivery service.
Elite Express Holding's $15.2 million IPO represents a relatively small public offering in today's market. The pricing at $4.00 per share for 3.8 million shares positions this last-mile delivery provider at the lower end of the typical IPO spectrum, suggesting cautious investor sentiment or limited initial scale.
The company's decision to list on the Nasdaq Capital Market rather than the Nasdaq Global Market indicates its smaller capitalization status. The Capital Market typically hosts companies with lower market valuations and is often the entry point for emerging growth companies.
The underwriting structure reveals important insights: Dominari Securities leading as representative with Revere Securities as co-underwriter suggests a boutique approach rather than engagement with bulge-bracket investment banks. This underwriting arrangement typically indicates more challenging economics or a smaller deal that wouldn't attract premier underwriters.
The 45-day option granted to underwriters to purchase an additional 570,000 shares (15% of the base offering) is standard for IPOs, allowing underwriters to meet excess demand if it materializes. However, the relatively modest size of the overall offering suggests Elite Express is entering public markets with limited initial capitalization.
As a California-based last-mile delivery service provider, Elite Express enters a highly competitive sector dominated by larger players with substantial resources. The modest IPO proceeds may limit the company's ability to rapidly scale operations or technology investments compared to well-capitalized competitors.
LAGUNA HILLS, Calif., Aug. 20, 2025 (GLOBE NEWSWIRE) -- Elite Express Holding Inc. (ETS), a last-mile delivery service provider based in California, today announced the pricing of its initial public offering of 3,800,000 shares of Class A common stock at a public offering price of
The shares of Class A common stock are expected to begin trading on the Nasdaq Capital Market under the ticker symbol “ETS” on August 21, 2025. The offering is expected to close on August 22, 2025, subject to the satisfaction of customary closing conditions.
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 (File No. 333-286965), as amended, was filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective on August 20, 2025. The offering is being made only by means of a prospectus forming part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. Copies of the final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Electronic copies of the prospectus may be obtained from the underwriter by contacting 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 these securities, nor shall there be any sale of these securities in any state or jurisdiction where 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 relate to future events, including, but not limited to, statements relating to the expected closing date of the offering and expected gross proceeds from the offering. 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 include risks related to our ability to satisfy the closing conditions related to the offering, general market and economic conditions, and those other risks as 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.
(949) 758-0650
ir@eliteexpressholding.com
23046 Avenida De La Carlota, Suite 600 Laguna Hills, CA 92653
FAQ
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