NEW YORK, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Spartan Capital Securities LLC, a premier investment banking firm, is pleased to announce its successful role as a selling group member in the initial public offering (IPO) of JBDI Holdings Limited (“JBDI” or the “Company”). The offering consisted of 2,250,000 ordinary shares at a public offering price of $5.00 per share, generating total gross proceeds of approximately $11.25 million.

JBDI Holdings Limited, a leading provider of environmentally friendly and efficient reconditioning and recycling services for drums and containers in Singapore and Southeast Asia, began trading on the Nasdaq Capital Market on August 27, 2024, under the ticker symbol “JBDI.” The offering closed on August 28, 2024, as scheduled, subject to customary closing conditions.

Spartan Capital Securities played a pivotal role in the transaction, contributing to the sale of $7,067,115 in shares. Wilson-Davis & Co., Inc. served as the lead underwriter for the offering. Schlueter & Associates, P.C. provided legal counsel to JBDI, while Sichenzia Ross Ference Carmel LLP represented the underwriters.

This IPO marks a significant milestone for JBDI Holdings as they expand their public market presence, leveraging the raised capital to enhance their sustainable reconditioning and recycling solutions across Southeast Asia.

Spartan Capital Securities extends its gratitude to JBDI’s management team for their trust and collaboration throughout the IPO process. We also acknowledge the dedicated legal teams at Schlueter & Associates, P.C. and Sichenzia Ross Ference Carmel LLP for their instrumental roles in facilitating this successful transaction.

About Spartan Capital Securities, LLC:

Spartan Capital Securities, LLC, is a leading full-service financial firm, providing expert investment advice to high-net-worth individuals and institutional clients. Renowned for its deep market knowledge, strategic risk management, and personalized service, Spartan Capital stands as a beacon of integrity and professionalism in the financial services industry. For more information, please visit www.spartancapital.com.

Contact:

Spartan Capital Securities, LLC
45 Broadway, 19th Floor
New York, NY 10006
investmentbanking@spartancapital.com