Elite Express Holding Inc. (ETS), a last-mile delivery service provider based in California, announced the pricing of its initial public offering of 3,800,000 shares of Class A common stock at a public offering price of $4.00 per share.
The gross proceeds of the offering amount to approximately $15.2 million, before deduction of underwriting discounts and offering expenses.
The offering includes an option for underwriters to purchase an additional 570,000 shares of Class A common stock at the same offering price.
Company Background
ETS is a Delaware holding company that operates through its wholly owned subsidiary, JAR Transportation Inc., focusing on last-mile delivery services in California.
Offering Details
3,800,000 shares of Class A common stock priced at $4 per share, with potential for underwriters to acquire an extra 570,000 shares.
Nasdaq Listing
Expected trading on the Nasdaq Capital Market under the ticker symbol ETS starting August 21, 2025.
- The successful pricing of the IPO at $4.00 per share indicates investor confidence in ETS and its last-mile delivery services.
- The gross proceeds of $15.2 million will provide ETS with additional capital to expand its operations and invest in technology-driven solutions for improved efficiency.
Elite Express Holding Inc.'s successful pricing of the $15.2 million IPO signifies a significant milestone for the company, propelling it towards further growth and innovation in the competitive last-mile delivery sector.