JBDI Holdings, a Singapore-based supplier of new and reconditioned steel and plastic drums, raised $11.25 million by offering 2.25 million shares (22% secondary) at $5.00, the high end of the range of $4.00 to $5.00.
JBDI Holdings has grown from a small reconditioning and recycling business to a comprehensive provider of revitalized, reconditioned, and recycled drums, comprising a diversified range of drums including open top drums, metal drums, plastic drums, plastic carboys, and intermediate bulk containers. The company has also diversified into the sale of new drums and the collection of waste drums and related products.
JBDI Holdings plans to list on the Nasdaq under the symbol JBDI. Wilson-Davis & Co acted as bookrunner on the deal.
