Elite Express Holding Inc. completed its IPO of 3.8 million Class A shares, raising $15.2 million at $4.00 per share.
Quiver AI Summary
Elite Express Holding Inc. (ETS), a California-based last-mile delivery services provider, announced the successful closing of its initial public offering (IPO) on August 22, 2025, selling 3,800,000 shares of Class A common stock at an offering price of $4.00 per share, resulting in gross proceeds of approximately $15.2 million. The shares began trading on The Nasdaq Capital Market under the ticker symbol “ETS.” Additionally, the underwriters have a 45-day option to purchase up to 570,000 additional shares. The SEC has approved the registration statement related to the offering, which is accessible through their website. ETS operates primarily through its subsidiary, JAR Transportation Inc., providing efficient delivery services utilizing technology to enhance logistics and regulatory compliance.
Potential Positives
- ETS successfully closed its initial public offering of 3,800,000 shares of Class A common stock, raising approximately $15.2 million in gross proceeds, enhancing its financial standing.
- The company's shares began trading on The Nasdaq Capital Market under the ticker symbol “ETS,” which may increase visibility and credibility in the market.
- The granting of a 45-day option for underwriters to purchase an additional 570,000 shares could lead to further capital influx and support the company's growth strategy.
Potential Negatives
- The initial public offering (IPO) share price of $4.00 may indicate potential undervaluation, raising concerns about investor perception and company valuation.
- The company is subject to the volatility and regulatory scrutiny that often accompany publicly traded entities, which may impact operational flexibility and financial stability.
- The press release mentions that the closing of the IPO depends on the underwriters' option to purchase additional shares, indicating potential uncertainty regarding demand for the shares.
FAQ
What is the ticker symbol for Elite Express Holding Inc.?
The ticker symbol for Elite Express Holding Inc. is “ETS,” and it trades on The Nasdaq Capital Market.
How many shares were offered in the initial public offering?
Elite Express Holding Inc. offered 3,800,000 shares of Class A common stock in its initial public offering.
What were the gross proceeds from the IPO?
The gross proceeds from the initial public offering were approximately $15.2 million before deducting underwriting discounts and offering expenses.
Who were the underwriters for the offering?
Dominari Securities LLC acted as the representative of the underwriters, with Revere Securities as co-underwriter for the offering.
Where can I access the final prospectus for the offering?
The final prospectus relating to the offering can be accessed on the SEC’s website at www.sec.gov or through Dominari Securities LLC.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
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 [email protected].
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
[email protected]
