Elauwit Connection opens at $8.75, IPO priced at $9 per share

Elauwit Connection (ELWT), 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.