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OpenIPO Offerings
Lombard Securities anticipates being a participant in the OpenIPO distribution of common stock in Morningstar, Inc. We believe this issue will come to market in April 2005.

Morningstar, Inc. is a leading provider of independent investment research. The company offers an extensive line of Internet, software, and print-based products for individual investors, financial advisors, and institutional clients.

This offering is made by prospectus only. If you are a potential investor, click here to request an OpenIPO Package or call us at 1.800.755.2144.


Offering Closed:

Prospectus (dated 05/02/05) - Click Here
(4.5 mb file - 15 minute download at 56k)
Symbol MORN
Total Shares Offered 7,612,500
Price $18.50
Exchange NASDAQ
Lead Manager WR Hambrecht + Co


Auction TimeLine

Lombard Securities is not an underwriter or a selling agent, but a distribution agent.

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