ELWT News & Events

As previously reported, Craig-Hallum initiated coverage of Elauwit Connection with a Buy rating and $12 price target. With the team, offering, and market already in place, Elauwit's IPO now unlocks the full $25B multifamily property TAM, the firm says. Armed with a business model that provides good outcomes for everybody involved, Craig-Hallum expects nice traction with the Network-as-a-Service offering and thus a transformation into a recurring revenue / high margin business. While the company itself is young, the firm sums this to be a unique opportunity where early investors have a great chance to be rewarded as the story plays out.

Craig-Hallum initiated coverage of Elauwit Connection with a Buy rating and $12 price target.

Elauwit Connection, a provider of broadband internet networks for multifamily and student housing, priced an aggregate of 1,667,000 shares of its common stock at $9.00 per share. Elauwit intends to use the net proceeds from the offering for debt repayment, project deployments, sales and marketing organizational development, payment of deferred compensation, working capital and general corporate purposes.