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Elauwit Connection, Inc. filings document the public reporting of an emerging growth company with Nasdaq-listed common stock under the ELWT symbol. The records cover Form 8-K reports for financial results, officer transitions, IPO-related over-allotment activity and non-reliance on previously issued interim financial statements tied to revenue recognition for certain network design and installation contracts.
Proxy materials describe annual-meeting governance matters, including director elections, auditor ratification and adjournment authority. The filings also identify the company's managed broadband and property-wide WiFi business, capital structure, reporting controls, exhibits and stockholder voting procedures.
Elauwit Connection, Inc. director Basolis Elbert G Jr received a grant of 1,693 restricted stock units that convert into common stock on a one-for-one basis. The award was granted under the Elauwit Connection, Inc. 2025 Stock Incentive Plan and, except as otherwise provided in the award notice, vests on the first anniversary of the grant date. After these updates, he directly holds 170,471 shares of common stock and 1,693 restricted stock units.
Elauwit Connection, Inc. director Berk Frederick R. received a grant of 1,847 restricted stock units on common stock. These RSUs were awarded at no cash cost as equity compensation under the Elauwit Connection, Inc. 2025 Stock Incentive Plan and convert into common shares on a one-for-one basis.
According to the grant terms, the units generally vest on the first anniversary of the grant date, aligning compensation with longer-term company performance. After this filing, he directly holds 63,169 shares of common stock, reflecting his ongoing equity stake in the company.
Elauwit Connection, Inc. director Leslie E. Goodman received a grant of 1,693 restricted stock units (RSUs) on common stock. The RSUs were awarded at a price of $0.00 per unit under the Elauwit Connection, Inc. 2025 Stock Incentive Plan and will generally vest on the first anniversary of the grant date, after which they convert into common shares on a one-for-one basis. Following this award, Goodman directly holds 1,693 RSUs and is also reported with indirect ownership of 103,760 common shares through Goodman Family Holdings, LLC, while disclaiming beneficial ownership of those indirect shares except to the extent of his pecuniary interest.
Elauwit Connection, Inc. director Glenn M. Josephs received a grant of 1,539 Restricted Stock Units that convert into common stock on a one-for-one basis. The RSUs were granted under the Elauwit Connection, Inc. 2025 Stock Incentive Plan and, except as otherwise provided in the award notice, vest on the first anniversary of the grant date. Following this award, he directly holds 141,388 shares of common stock and 1,539 RSUs.
O'Brien David J. reported acquisition or exercise transactions in this Form 4 filing.
Elauwit Connection, Inc. director David J. O'Brien received a grant of 1,693 restricted stock units, each convertible into one share of common stock, at a price of $0.00 per unit. The award was made under the Elauwit Connection, Inc. 2025 Stock Incentive Plan in a transaction exempt under Rule 16b-3 and, unless otherwise specified in the award notice, vests on the first anniversary of the grant date.
After this grant, O'Brien directly holds 1,693 restricted stock units. The filing also records indirect holdings of Elauwit common stock by entities associated with him: 213,001 shares held by Cara Capital, LLC and 62,169 shares held by Cara Capital VC 1, LLC.
Elauwit Connection, Inc. director Shannon Roger D received a grant of 1,693 restricted stock units. These RSUs were awarded at no cash cost and will convert into 1,693 shares of common stock on a one-for-one basis once they vest. The grant was made under the Elauwit Connection, Inc. 2025 Stock Incentive Plan in a transaction exempt under Rule 16b-3. Except as otherwise provided in the award notice, the RSUs vest on the first anniversary of the grant date, and following this grant the director holds 1,693 RSUs directly.
134,194 shares of Common Stock are described in this Prospectus Supplement No. 5 as issuable upon exercise of the Representative’s warrants. The supplement attaches an amended Form 10-Q/A that restates interim results for the nine months ended September 30, 2025 due to revenue recognition errors.
The restatement reduces reported revenue by $1.391 million for the nine months and $0.471 million for the three months ended September 30, 2025, reflecting duplicated revenue tied to percentage-of-completion accounting. Management characterizes the cause as a reconciliation process control deficiency and discloses related material weaknesses in internal control. The company notes its going-concern doubt was alleviated after closing an IPO that raised approximately $15.0 million. Shares outstanding were 6,619,796 as of March 30, 2026.
Elauwit Connection, Inc. announced a Chief Financial Officer transition and new incentive program for executives and employees. The Board appointed James Philippe Di Bartolo II as CFO effective April 2, 2026, under a three-year employment agreement running through April 2, 2029. He will receive a $240,000 annual base salary, be eligible for a performance-based annual cash bonus, and receive a one-time $50,000 restricted stock unit grant vesting over one year. The company also established an annual incentive award program that provides select executives and employees with performance-based restricted stock units and cash awards tied to 2026 metrics including gross revenue, EBITDA, contracted units, and Google review scores.
Elauwit Connection, Inc. provides fiber-based broadband networks and managed WiFi to multifamily and student housing properties, aiming to create high-margin recurring revenue through Managed Services and Network-as-a-Service contracts.
As of December 31, 2025, Elauwit had 34,067 units in service or contracted across 122 properties in 27 states and reported 154% topline revenue growth in 2025, but also net losses of $4.2 million in 2025 and $3.5 million in 2024. The company highlights a pipeline of about 120,600 units, representing approximately $120 million of potential network construction revenue and an estimated $26 million in annual recurring revenue, alongside significant customer concentration, leverage, and material weaknesses in internal control over financial reporting that led to prior period restatements.
Elauwit Connection, Inc. reported very strong growth for 2025 while remaining unprofitable. Full-year revenue rose to $21.6 million from $8.5 million, a 154% increase, with recurring service revenue up 151%. Fourth-quarter revenue was $6.1 million versus $3.3 million a year earlier.
Despite this expansion, Elauwit posted a full-year net loss of $4.2 million, slightly wider than the $3.5 million loss in 2024, and adjusted EBITDA was -$3.7 million compared with -$3.2 million. The balance sheet improved: cash and cash equivalents increased to $6.2 million from $0.3 million, total liabilities declined to $7.5 million from $12.3 million, and stockholders’ equity shifted from a deficit of -$4.5 million to positive $4.4 million.
Management highlighted growing contracted, activated and billed units and a larger sales pipeline, including about 8,000 units of new bidding opportunities from property groups representing potentially up to 50,000 units, and broader initiatives targeting 2,000 new accounts and up to 12 million units in a stated $25 billion addressable market.