SINGAPORE, Aug. 28, 2024 (GLOBE NEWSWIRE) — JBDI Holdings Limited (“JBDI” or the “Company”) (Nasdaq: JBDI), a leading provider of environmentally friendly and efficient drum and container processing and recycling services in Singapore and Southeast Asia, today announced the closing of its previously announced initial public offering (the “Offering”) of an aggregate of 2,250,000 ordinary shares at a public offering price of US$5.00 per share, for aggregate gross proceeds of US$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.
Trading of the shares on the Nasdaq Capital Market began on August 27, 2024 under the ticker symbol “JBDI.”
Wilson-Davis & Co., Inc. acted as lead guarantor and agent for the offering.
Schlueter & Associates, PC acted as legal advisor to JBDI and Sichenzia Ross Ference Carmel LLP acted as legal advisor to the underwriters in connection with the offering.
A registration statement on Form F-1, as amended (File No. 333-276945) has been filed with the United States Securities and Exchange Commission (the “SEC”) and declared effective on August 26, 2024. The offering of the securities will be made only by means of a prospectus. Electronic copies of the final prospectus relating to the offering are available on the SEC’s website 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: l[email protected].
This press release does 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, refurbishment and recycling of drums and similar containers in Singapore and across Southeast Asia. With nearly four decades of industry experience, JBDI Holdings has built a reputation for quality and reliability, offering a wide range of reconditioned steel and plastic drums, new containers and value-added services. Our mission is to help our customers achieve a zero environmental footprint while optimizing resource allocation and reducing costs. For more information, visit http://jbdi.barrels.com.sg.
Safe Harbor Statement
This press release contains forward-looking statements that reflect our current expectations and beliefs regarding 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 differ materially 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,” “seek,” “estimate,” “intend,” “plan,” “believe,” “will likely,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections regarding 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 publicly update or revise any forward-looking statements after the date the statements are made, whether as a result of new information, future events or otherwise, or to reflect the occurrence of unanticipated events. These cautionary statements supplement all of our forward-looking statements.
Contact for Investor Relations:
Matthew Abenante, IRC
president
Strategic Investor Relations, LLC
Phone: 347-947-2093
E-mail: [email protected]
