Elite Express Holding prices IPO at $4 per share, to raise $15.2 million

LAGUNA HILLS, Calif. - Elite Express Holding Inc. (ETS), a California-based last-mile delivery service provider, has priced its initial public offering at $4.00 per share, the company announced Wednesday. According to InvestingPro data, the company enters public markets with challenging financials, showing negative EBITDA of $0.35 million in the last twelve months.

The company is offering 3,800,000 shares of Class A common stock, which is expected to generate approximately $15.2 million in gross proceeds before deducting underwriting discounts and offering expenses.

ETS has also granted underwriters a 45-day option to purchase up to an additional 570,000 shares at the initial offering price.

Shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol "ETS" on August 21, 2025, with the offering scheduled to close on August 22, 2025, subject to customary closing conditions.

Dominari Securities LLC is serving as the representative of the underwriters, with Revere Securities acting as co-underwriter. Pacific Century Securities, LLC is functioning as advisor to ETS.

The company operates through its wholly owned subsidiary, JAR Transportation Inc., providing last-mile delivery services that transport packages from distribution centers to end customers within defined service areas. InvestingPro analysis reveals the company faces operational challenges with a modest gross profit margin of 9.32% and annual revenue of $2.54 million.

According to the press release statement, ETS utilizes logistics software to support route planning, driver oversight, and regulatory compliance.

A registration statement on Form S-1 related to the offering was declared effective by the U.S. Securities and Exchange Commission on Wednesday.

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