Elite Express Holding Inc. (ETS) to Raise $16 million in IPO

Elite Express Holding Inc. (ETS) plans to raise $16 million in an initial public offering on Thursday, August 21st, IPO Scoop reports. The company will issue 4,000,000 shares at $4.00 per share.

In the last year, Elite Express Holding Inc. generated $2.44 million in revenue and had a net loss of $380 thousand. The company has a market-cap of $67.67 million.

Elite Express Holding, Inc. provided the following description of their company for its IPO: “We are a holding company. Our operating business is a last-mile delivery service in California. (Incorporated in Delaware) We are a holding company incorporated in Delaware. Through our wholly owned subsidiary, JAR Transportation Inc., a California-based operating entity, we specialize in last-mile delivery services within California. Our core business focuses on retrieving packages from distribution hubs and ensuring their prompt and secure delivery to recipients’ doorsteps. Committed to innovation and efficiency, our mission is to optimize last-mile logistics by providing efficient, reliable, and innovative delivery solutions. Note: Our business model is heavily dependent on FedEx. For the reporting periods from December 1, 2022, to February 28, 2025, and as of the date of this prospectus, FedEx has been our sole customer to which we provided pickup and delivery service. This heavy dependence on FedEx makes our business vulnerable if our relationship with such customer deteriorates or if such customer significantly reduces the demand for our service. As of the date of this prospectus, we are exploring connections with potential customers who require last-mile delivery service but we have not yet entered into any definitive agreements for securing new customers.  As of the date of this prospectus, we employ approximately 31 full-time and 3 part-time staff, including approximately 26 drivers. Our fleet consists of approximately 20 trucks and trailers. We provide exclusive pickup and delivery services within our designated service area, covering approximately 1,665.28 square miles. We utilize GroundCloud, a leading logistics software, during our course of business, for route optimization, driver management, and compliance monitoring. Additionally, we are actively expanding our investment in advanced technologies to enhance our scalability, automate our operations, and drive our data-driven decision-making. On an average day, we complete between 1,000 to 1,700 stops, facilitating the pickup and delivery of approximately 1,200 to 2,000 packages. During peak seasons, our daily stops rise to an estimated 2,000, allowing us to meet heightened demand with efficiency and reliability. For the year ended November 30, 2023 (Predecessor), we reported total revenue of $2,426,026 and incurred a net loss of $208,390. For the period from December 1, 2023 to October 25, 2024 (Predecessor), we reported a total revenue of $2,192,893 and a net loss of $77,735. For the period from October 26, 2024 to November 30, 2024 (Successor), we reported total revenue of $251,049 and a net loss of $300,703. For the three months ended February 28, 2025, we reported total revenue of $692,143 and incurred a net loss of $204,999. During this period, 100% of our revenue was derived from our subsidiary’s last-mile delivery services to our sole customer, FedEx. Note: Net loss and revenue are for the 12 months that ended Nov. 30, 2024. (Note: Elite Express Holding, Inc. is offering 4.0 million shares at an assumed IPO price of $4.00 each to raise $16.0 million, according to its S-1 filing dated May 5, 2025.) “.

Elite Express Holding, Inc. was founded in 2020 and has 34 employees. The company is located at 23046 Avenida De La Carlota, Suite 600 Laguna Hills, CA 92653 and can be reached via phone at (949) 758-0650 or on the web at https://eliteexpressholding.com/.