Elauwit Connection raises additional $0.6 million from over-allotment

Elauwit Connection, Inc. (NASDAQ: ELWT) closed the sale of an additional 68,989 shares of common stock at $9.00 per share through the partial exercise of the underwriter's over-allotment option connected to its initial public offering, according to a company statement.

The broadband services provider raised gross proceeds of $0.6 million from the over-allotment, adding to the previously announced IPO gross proceeds of approximately $15.0 million, before deducting underwriting discounts and other offering expenses.

Craig-Hallum Capital Group LLC served as the sole bookrunner for the offering, which was conducted on a firm commitment basis. Harter Secrest & Emery LLP acted as counsel to the company, while Pryor Cashman LLP represented the underwriters.

The company's registration statement on Form S-1 became effective on November 2, 2025, under Section 8(a) of the Securities Act of 1933. The offering is being made through a prospectus available from Craig-Hallum Capital Group LLC or through the SEC's website.

Elauwit operates as a managed services provider that designs, builds, and operates broadband and WiFi networks for multifamily and student housing communities. The Columbia, South Carolina-based company focuses on delivering connectivity services as amenities for property owners.

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