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SINGAPORE - JBDI Holdings Limited (NASDAQ:JBDI), a Singapore-based environmental services company with a market capitalization of $25.3 million, announced today that it has resolved its non-compliance with the Nasdaq’s minimum bid price requirement. The company also disclosed the filing of its delayed interim financial statements, addressing another Nasdaq listing rule violation. According to InvestingPro data, JBDI’s stock currently trades at $1.22, marking a significant recovery from its 52-week low of $0.49.
JBDI had received a notice from Nasdaq on December 12, 2024, indicating that the company’s shares had fallen below the minimum bid price of $1.00 over a 30-day period, violating Listing Rule 5450(a)(1). However, as of June 2, 2025, the company’s closing bid price has met or exceeded $1.00 for eleven consecutive business days, restoring compliance with the rule. InvestingPro data reveals the stock has shown remarkable momentum, posting an 78% gain over the past six months, though still trading well below its 52-week high of $39.41.
In a separate compliance issue, JBDI received a deficiency notice from Nasdaq on June 3, 2025, for failing to file its interim financial statements for the second quarter on Form 6-K. This non-compliance put the company at odds with Listing Rule 5250(c)(2). JBDI was given 60 days to submit a plan to regain compliance, with the possibility of a 180-day extension to meet the requirements.
The company acted swiftly and on June 5, 2025, filed its unaudited condensed consolidated financial statements for the six-month periods ended November 30, 2024, and 2023, with the Securities and Exchange Commission. JBDI stated its intention to notify Nasdaq of this filing, asserting that it is now in compliance with the relevant listing rule.
JBDI Holdings Limited specializes in the reconditioning and recycling of drums and related containers. It offers a variety of services and products aimed at reducing environmental impact and has been operating in Southeast Asia for nearly four decades.
The company’s CEO, Mr. Lim Chwee Poh, expressed satisfaction at regaining compliance, highlighting the importance of Nasdaq listing for shareholder value. InvestingPro analysis indicates the company maintains a "Fair" overall financial health score, with particularly strong ratings in cash flow and price momentum metrics. Subscribers to InvestingPro can access additional insights, including 5 more exclusive ProTips and detailed financial health indicators.
This announcement is based on a press release statement by JBDI Holdings Limited. The company’s forward-looking statements are subject to various risks and uncertainties, and there is no guarantee that future events will align with current expectations. The company’s next earnings report is scheduled for October 17, 2025.
In other recent news, JBDI Holdings Ltd has released its unaudited interim condensed financial statements for the six months ending November 30, 2024. This disclosure was made through a filing with the U.S. Securities and Exchange Commission and includes supplementary financial information. The financial report provides insights into JBDI Holdings’ performance during this period and is signed by the company’s CEO and CFO, ensuring its accuracy. Additionally, JBDI Holdings has announced a $1 million share repurchase program, as sanctioned by its board of directors. This initiative will be executed through various methods, including open market transactions and privately negotiated deals, subject to market conditions and regulatory compliance. The share repurchase program reflects the company’s ongoing commitment to enhancing shareholder value and is subject to periodic review by the board. These developments are part of JBDI Holdings’ efforts to maintain its financial health and strategic growth.
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