LeeWay Services files for $17M IPO

Freight brokerage and logistics services provider LeeWay Services Inc. filed with the Securities and Exchange Commission on Monday to raise up to $17 million in an initial public offering.

The Salt Lake City-based company said it plans to be listed on the Nasdaq but hasn’t decided on a ticker yet. ThinkEquity is the sole bookrunner on the deal. LeeWay didn’t disclose any pricing terms.

“LeeWay Services operates a freight brokerage and transportation platform that matches shipper loads with carrier capacity, which is primarily provided by small carriers and independent owner-operators. The loads are primarily full truckload and often need specialized trailers such as refrigeration or flatbeds in addition to dry vans. LeeWay is also in the process of developing a next-generation digital freight platform to serve its customers,” the company said in a statement.

LeeWay Services booked $36 million in revenue for the 12 months that ended March 31. 

LeeWay’s portfolio includes LeeWay Global Logistics, a technology-based freight brokerage company that provides transportation management solutions, and E-Commerce Seller Financing, an end-to-end cloud-based financing platform that offers loans for small and midsized e-commerce companies.

Click here for more FreightWaves articles by Alyssa Sporrer.

Related Stories:

Instacart files for IPO, but should it?

Blue Yonder would be centerpiece of Panasonic’s supply chain business IPO

Gopuff plans to lay off hundreds of employees ahead of potential IPO

Source: freightwaves - LeeWay Services files for $17M IPO
Editor: Alyssa Sporrer