Echo Global Logistics Announces Pricing of Its Initial Public Offering
CHICAGO, Oct. 2, 2009 (GLOBE NEWSWIRE) -- Echo Global Logistics, Inc. (Nasdaq:ECHO - News) announced today the pricing of its initial public offering of 5,700,000 shares of its common stock at $14.00 per share (before underwriting discounts and commissions). The shares will begin trading on Friday, October 2, 2009, on The NASDAQ Global Market under the ticker symbol "ECHO." In addition, certain stockholders have granted the underwriters the option to purchase up to an additional 855,000 shares at the initial public offering price to cover over-allotments, if any.
Morgan Stanley & Co. Incorporated and Credit Suisse Securities (USA) LLC acted as joint book-running managers for the offering. William Blair & Company, L.L.C., Thomas Weisel Partners LLC, Barrington Research Associates, Inc. and Craig-Hallum Capital Group, Inc. acted as co-managers of the offering.
The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department, or by calling (866) 718-1649 or by emailing prospectus@morganstanley.com; or Credit Suisse Securities (USA) LLC, One Madison Avenue 1B, New York, New York 10010, Attention: Prospectus Department, or by calling (800) 221-1037.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Echo Global Logistics
Chicago-based Echo Global Logistics is a leading provider of technology enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. Echo's web-based technology platform compiles and analyzes data from its network of over 22,000 transportation providers to serve its clients' shipping and freight management needs. Echo procures transportation and provides logistics services for more than 11,600 clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: www.echo.com.
The Echo Global Logistics, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5293
CONTACT: Echo Global Logistics, Inc.
Kara Smith
312-676-5795
ksmith@echo.com