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.
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F3: Future of Freight Festival
NOVEMBER 7-9, 2023 • CHATTANOOGA, TN • IN-PERSON EVENT
The second annual F3: Future of Freight Festival will be held in Chattanooga, “The Scenic City,” this November. F3 combines innovation and entertainment — featuring live demos, industry experts discussing freight market trends for 2024, afternoon networking events, and Grammy Award-winning musicians performing in the evenings amidst the cool Appalachian fall weather.
