JBDI Holdings Limited Closes $11.25 Million IPO Successfully
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JBDI Holdings Limited Closes $11.25 Million Initial Public Offering
JBDI Holdings Limited (“JBDI” or the “Company”) (Nasdaq: JBDI), a leader in environmentally friendly reconditioning and recycling services for drums and containers, has successfully completed its initial public offering (the “Offering”) of a total of 2,250,000 ordinary shares. This offering, priced at $5.00 per share, has generated total gross proceeds amounting to $11.25 million, exclusive of selling and underwriting fees.
Out of the 2,250,000 ordinary shares, 1,750,000 were offered by the Company while the remaining 500,000 ordinary shares were provided by selling shareholders. It’s important to note that JBDI will not receive proceeds from the shares sold by the latter group.
Trading Information
The newly issued shares began trading on the Nasdaq Capital Market under the ticker symbol “JBDI.” This marks a significant milestone for the Company, indicating its strong position in the market and commitment to investors.
Leadership and Legal Representation
Wilson-Davis & Co., Inc. served as the lead underwriter for the Offering, showcasing their expertise in managing public offerings and guiding companies through the IPO process.
Legal support was provided by Schlueter & Associates, P.C. for JBDI, while Sichenzia Ross Ference Carmel LLP represented the underwriters in connection with the Offering.
Registration Details and Availability
A formal registration statement on Form F-1, which was filed with the United States Securities and Exchange Commission (the “SEC”), received effectiveness on the day before the shares began trading. This is a standard procedure in public offerings, ensuring compliance with regulatory requirements.
Final Offering Prospectus
The complete prospectus is made available to interested parties, enabling them to understand the details and implications of the Offering fully. Access to the final prospectus can be obtained through the SEC’s official website or by reaching out directly to the underwriters.
About JBDI Holdings Limited
JBDI Holdings Limited has carved out a reputation as a premier provider of sustainable recycling services in the drum and container industry, particularly in Southeast Asia. With close to 40 years of experience, JBDI excels in the reconditioning and recycling processes that not only adhere to environmental standards but also contribute to cost minimization for its clients.
The Company provides an extensive range of services, including the refurbishment of steel and plastic drums and offering new containers. This diversified portfolio enables customers to meet environmental compliance while optimizing their resource allocation.
Investor Relations Contact
For further inquiries, Matthew Abenante serves as the primary contact for investor relations. As the President of Strategic Investor Relations, LLC, he is available for addressing any questions or clarifications regarding the Offering or the Company’s strategic direction. Matthew can be reached at 347-947-2093 or via email.
Frequently Asked Questions
What was the total amount raised in JBDI's IPO?
JBDI's initial public offering raised a total of $11.25 million from the sale of 2,250,000 ordinary shares.
What is JBDI Holdings Limited known for?
JBDI Holdings Limited specializes in eco-friendly reconditioning and recycling of drums and containers, focusing on sustainable practices in Southeast Asia.
What ticker symbol will JBDI trade under?
JBDI will trade under the ticker symbol “JBDI” on the Nasdaq Capital Market.
Who acted as underwriters for the Offering?
Wilson-Davis & Co., Inc. acted as the lead underwriter for the initial public offering of JBDI Holdings Limited.
How can one access the final prospectus of JBDI's Offering?
The final prospectus can be accessed on the SEC’s website or by contacting the lead underwriters directly.
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