Elauwit Connection, which provides broadband internet for the multifamily and student housing sector, raised the proposed deal size for its upcoming IPO on Tuesday.
The Columbia, SC-based company now plans to raise $15 million by offering 1.7 million shares at a proposed price of $9. The company had previously filed to offer 1.5 million shares at a range of $9 to $11. At the revised deal size, Elauwit Connection will raise $3000 more in proceeds than previously anticipated and command a market cap of $60 million (-8% versus previous terms).
Elauwit Connection is a provider of broadband internet networks for the multifamily and student housing property sector, providing Managed Services and Network-as-a-Service solutions designed to modernize and enhance the internet connectivity experience for residents.
Elauwit Connection was founded in 2002 and booked $17 million in revenue for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol ELWT. Craig-Hallum Capital Group is the sole bookrunner on the deal.
