IPO News Archive

Technology-based logistics firm Echo Global Logistics sets IPO terms

9/16/09


Echo Global Logistics, which provides technology-enabled shipping and freight management services, announced terms for its IPO on Wednesday. The Chicago, IL-based company plans to raise $80 million by offering 5,700,000 at a price range of $13.00 to $15.00. At the mid-point of the proposed range, Echo Global Logistics will have a market value of appoximately $313 million. The company, which was founded in 2005 and booked $277 million in sales over the last 12 months, plans to list on the NASDAQ under the symbol ECHO. Morgan Stanley and Credit Suisse are the lead underwriters on the deal.

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