Broadband internet service provider Elauwit Connection (ELWT.US) IPO priced at $9 per share, falling 20% on its first trading day.

Elauwit Connection (ELWT.US) made its debut on the Nasdaq stock exchange on Wednesday, with its initial public offering (IPO) priced at $9 per share, at the lower end of the previously announced price range of $9-11 per share. The company issued 1.7 million shares in its IPO, raising $15 million. The stock dropped 20% on its first day of trading, closing at $7.20 per share. Elauwit Connection is a provider of broadband internet networks for multi-family housing and student housing industries, offering management services and network-as-a-service solutions aimed at providing residents with a modern and enhanced internet connectivity experience. The company, headquartered in Columbia, South Carolina, was founded in 2019 and had a revenue of $17 million for the 12 months ending June 30, 2025.