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LAGUNA HILLS, Calif. - Elite Express Holding Inc. (NASDAQ:ETS), a provider of last-mile delivery services, announced Thursday it has closed its initial public offering of 3.8 million shares of Class A common stock at $4.00 per share, raising approximately $15.2 million in gross proceeds.
The company’s shares began trading on The Nasdaq Capital Market on Wednesday under the ticker symbol "ETS."
Elite Express Holding has granted the underwriters a 45-day option to purchase up to an additional 570,000 shares at the initial offering price.
Dominari Securities LLC served as the representative of the underwriters, with Revere Securities acting as co-underwriter. Pacific Century Securities, LLC acted as advisor to Elite Express Holding.
The IPO follows the company’s registration statement on Form S-1 becoming effective on August 20, 2025.
Elite Express Holding operates through its wholly owned subsidiary, JAR Transportation Inc., providing last-mile delivery services that transport packages from distribution centers to end customers. The company utilizes logistics software for route planning, driver oversight, and regulatory compliance.
The information in this article is based on a press release statement from Elite Express Holding Inc.
In other recent news, Elite Express Holding Inc. announced the pricing of its initial public offering at $4.00 per share. The California-based company is offering 3,800,000 shares of Class A common stock. This move is expected to generate approximately $15.2 million in gross proceeds. The funds raised will be before deducting underwriting discounts and offering expenses. These developments mark a significant step for Elite Express Holding as it enters the public market. The IPO is a critical milestone that could impact the company’s future growth and financial strategy. Investors will be watching closely to see how Elite Express Holding leverages the capital raised from this offering.
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