Elite Express Holding, which provides last-mile delivery services in California, filed on Monday with the SEC to raise up to $16 million in an initial public offering.
The Laguna Hills, CA-based company plans to raise $16 million by offering 4 million shares at $4. At the proposed price, Elite Express Holding would command a market value of $68 million.
Through its wholly owned subsidiary JAR Transportation, the company specializes in last-mile delivery services within California. Its core business focuses on the delivery of packages retrieved from distribution hubs. Elite Express' fleet consists of approximately 20 trucks and trailers, and its designated service area covers over 1,600 square miles. The company completes between 1,000 to 1,700 stops per day on average, facilitating the pickup and delivery of approximately 1,200 to 2,000 packages.
Elite Express Holding was founded in 2020 and booked $3 million in revenue for the 12 months ended February 28, 2025. It plans to list on the Nasdaq under the symbol ETS. The company filed confidentially on February 20, 2025. Dominari Securities and Revere Securities are the joint bookrunners on the deal.
