04:52 AM EDT, 08/27/2024 (MT Newswires) -- JBDI Holdings (JBDI) said late Monday it priced its initial public offering of approximately 2.3 million ordinary shares at $5 per share for gross proceeds of $11.3 million.

The offering consists of about 1.8 million shares from the recycling company and 500,000 shares from selling shareholders.

Closing of the offering is expected to occur on Wednesday, subject to customary conditions.

The shares are expected to debut on the Nasdaq Capital Market on Tuesday under the ticker "JBDI."