Elauwit Connection, Inc., a managed services provider focused on delivering internet and connectivity solutions for multifamily and student housing communities, has announced the launch of its proposed initial public offering (IPO).
The company plans to offer up to 1,725,000 shares of common stock, with an additional option for underwriters to purchase up to 225,000 shares. Elauwit has applied to list its shares on the Nasdaq Stock Market under the ticker symbol “ELWT.”
Proceeds from the IPO are expected to be used for several purposes, including repayment of debt, funding new project deployments, expanding sales and marketing efforts, organizational development, payment of deferred compensation, and general corporate needs.
The offering will be led by Craig-Hallum Capital Group LLC, serving as the sole book-running manager. The company noted that the offering remains subject to market conditions and may not be completed as planned.
Founded to support property owners in enhancing tenant experiences, Elauwit Connection currently provides managed internet services in 25 states, positioning connectivity as a key competitive advantage for real estate operators.
Elauwit Connection is a managed services provider delivering turnkey internet and connectivity solutions tailored to multifamily and student housing communities. Operating across 25 states, the Company focuses on service quality, reliability, and revenue generation, enabling real estate owners to deliver premium connectivity as a competitive advantage.
By Proptechbuzz
By Ravi Kumar