Broadband Provider Elauwit Connection (ELWT.US) Priced at $9/Share in IPO, Closes Down 20% on Debut

Stock News
2025/11/06

Elauwit Connection (ELWT.US) debuted on the Nasdaq on Wednesday, pricing its initial public offering (IPO) at $9 per share, the lower end of its previously announced $9–$11 range. The company sold 1.7 million shares in the IPO, raising $15 million. On its first trading day, the stock closed down 20% at $7.20.

Elauwit Connection provides broadband internet networks for the multifamily and student housing sectors, offering managed services and network-as-a-service solutions designed to enhance residents' internet connectivity experience. Founded in 2019 and headquartered in Columbia, South Carolina, the company reported $17 million in revenue over the 12 months ending June 30, 2025.

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