Spartan Capital Securities Announces Successful Participation in JBDI Holdings Limited’s $11.25 Million Initial Public Offering
August 29 2024 - 2:30PM
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, LLC45 Broadway, 19th FloorNew York,
NY 10006investmentbanking@spartancapital.com