JBDI HOLDINGS LIMITED ANNOUNCES CLOSING OF $11.25 MILLION INITIAL PUBLIC OFFERING
28 August 2024 - 11:20PM
JBDI Holdings Limited (“JBDI” or the “Company”) (Nasdaq: JBDI), a
leading provider of environmentally friendly and efficient
reconditioning and recycling services for drums and containers in
Singapore and Southeast Asia, today announced the closing of its
previously announced initial public offering (the “Offering”) of an
aggregate 2,250,000 ordinary shares at a public offering price of
$5.00 per share for total gross proceeds of $11.25 million, before
deducting underwriting discounts and offering expenses. Of the
2,250,000 ordinary shares, the Company offered 1,750,000 ordinary
shares and the selling shareholders offered 500,000 ordinary
shares. The Company will not receive any proceeds from any sale of
shares by the selling shareholders.
The shares began trading on the Nasdaq Capital
Market on August 27, 2024, under the ticker symbol “JBDI.”
Wilson-Davis & Co., Inc. acted as lead
underwriter and representative for the Offering.
Schlueter & Associates, P.C. served as legal
counsel for JBDI, and Sichenzia Ross Ference Carmel LLP served as
legal counsel for the underwriters in connection with the
Offering.
A registration statement on Form F-1, as amended
(File No. 333-276945), was filed with the United States Securities
and Exchange Commission (the “SEC”) and was declared effective on
August 26, 2024. The offering of the securities is being made only
by means of a prospectus. Electronic copies of the final prospectus
relating to the Offering may be obtained by visiting the SEC’s
website located at http://www.sec.gov or by contacting Wilson-Davis
& Co., Inc. 16479 Dallas Parkway, Suite #315, Addison, TX
75001, Attention: Louis Helsen or email: lhelsen@wdco.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About JBDI Holdings Limited
JBDI Holdings Limited is a leading provider of
environmentally friendly and efficient products and services,
specializing in the revitalization, reconditioning, and recycling
of drums and related containers in Singapore and across Southeast
Asia. With nearly four decades of industry experience, JBDI
Holdings has established a strong reputation for quality and
reliability, offering a wide range of reconditioned steel and
plastic drums, new containers, and ancillary services. Our mission
is to help our customers achieve a zero environmental impact
footprint while optimizing resource allocation and reducing costs.
For more information, please visit http://jbdi.barrels.com.sg.
Safe Harbor Statement
This press release contains forward-looking
statements that reflect our current expectations and views of
future events. Known and unknown risks, uncertainties and other
factors, including those listed under “Risk Factors,” may cause our
actual results, performance or achievements to be materially
different from those expressed or implied by the forward-looking
statements. You can identify some of these forward-looking
statements by words or phrases such as “may,” “will,” “expect,”
“anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,”
“is/are likely to,” “potential,” “continue” or other similar
expressions. We have based these forward-looking statements largely
on our current expectations and projections about future events
that we believe may affect our financial condition, results of
operations, business strategy and financial needs. These
forward-looking statements involve various risks and uncertainties.
Except as required by law, we undertake no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise, after the date on
which the statements are made or to reflect the occurrence of
unanticipated events. We qualify all of our forward-looking
statements by these cautionary statements.
Investor Relations Contact:
Matthew Abenante, IRCPresidentStrategic Investor
Relations, LLCTel: 347-947-2093Email: matthew@strategic-ir.com
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