Panther filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined.
Panther is an expedited transportation and premium freight logistics company that uses owner operator vehicles, third-party ground carriers, and air and ocean freight forwarders to give customers single-source shipping solutions for time-sensitive, high-value and service-critical freight, with on-demand pick up and delivery to and from anywhere in the world.
Founded in 1992 as a just-in-time supplier focused on the automotive industry, Panther has expanded to provide critical domestic and international supply chain solutions to more 10,000 customers in multiple industry markets during the past 12 months.
Revenue has dropped in the last two years at Panther, but revenue surged in the first six months of this year, rising 43 percent to $95 million, and its loss narrowed sharply to $4.9 million. The $158 million non-asset-based transporter lost $43.3 million in 2009, according to published reports.