JFB Construction Holdings announced on September 26, 2025, that it has entered into a securities purchase agreement for a private investment in public equity (PIPE) financing. This transaction is expected to result in gross proceeds of approximately $43,895,000.
The company is selling 4,389,500 shares of Series C Convertible Preferred Stock, convertible into 8,068,933 shares of common stock at a conversion price of $5.44 per share. Additionally, 8,068,933 Common Warrants A (exercisable at $5.75) and 8,068,933 Common Warrants B (exercisable at $6.25) are included in the offering.
JFB intends to use $12 million of the net proceeds to retire the Company’s Class B Common Stock owned by CEO Joseph F. Basile III, with the remainder allocated for general corporate operating expenses. This substantial capital raise provides significant financial flexibility for the company's ongoing expansion and operational needs.
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