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Freight brokerage LeeWay Services files for a $17 million IPO

June 13, 2022

LeeWay Services, which provides freight brokerage and logistics services, filed on Monday with the SEC to raise up to $17 million in an initial public offering.

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 serves its customers.

The Salt Lake City, UT-based company was founded in 1934 and booked $36 million in revenue for the 12 months ended March 31, 2022. It plans to list on the Nasdaq, although it has not selected a symbol (RC Ticker: LWS.RC). ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.