1847 Holdings LLC - EFSH STOCK NEWS

1847 Holdings (NYSE American: EFSH) has announced a $11.42 million private placement to fund the acquisition of a Las Vegas-based millwork, cabinetry, and door manufacturer. The target company reported unaudited revenue of $33.1 million and net income of $10.4 million for the trailing twelve months ended September 30, 2024.

The private placement consists of 42,311,118 units, each including one common share or pre-funded warrant ($0.01 exercise price), one series A warrant ($0.81 exercise price), and one series B warrant ($0.54 exercise price). Spartan Capital Securities is serving as the sole placement agent.

1847 Holdings (NYSE American:EFSH) reported Q3 2024 financial results and strategic initiatives. The company achieved 6.3% revenue growth in the first nine months of 2024 compared to 2023. Key highlights include: $10.2 million in cash and restricted cash, sale of High Mountain Door & Trim for $17 million (double the purchase price), completion of $11.1 million public offering, and elimination of $6.9 million in debt. The company signed an agreement to acquire a Las Vegas-based manufacturer with $33.1 million revenue and $10.4 million net income. Q3 2024 revenues were $4.76 million, with a net loss from continuing operations of $5.56 million.

1847 Holdings (NYSE American: EFSH) has completed the sale of High Mountain Door & Trim (HMDT) to Builders FirstSource for approximately $17 million, more than double its original purchase price. HMDT, a Reno-based finished carpentry products company, reported preliminary unaudited revenue of $30.0 million and a net loss of $2.3 million for the trailing twelve months ended September 30, 2024. The company's Adjusted EBITDA was approximately $2.8 million. 1847 plans to reinvest part of the proceeds to continue its strategy of identifying, operating, and selling undervalued assets.

1847 Holdings (NYSE American: EFSH) has signed a definitive agreement to acquire a Las Vegas-based millwork, cabinetry, and door manufacturer for approximately $18.75 million. The target company reported unaudited revenue of $33.1 million and net income of $10.4 million for the TTM ended September 30, 2024. The acquisition is expected to close by December 3, 2024. This follows 1847's recent $11.1 million public offering and $4.2 million debt reduction from the ICU Eyewear sale. The company expects this acquisition to enhance profitability and cash flow significantly.

1847 Holdings (NYSE American: EFSH) announced a 1-for-15 reverse stock split effective November 11, 2024. The split will reduce outstanding common shares from approximately 11.4 million to 0.76 million. The company recently sold High Mountain Door & Trim Inc. to Builders FirstSource for more than double the purchase price and closed an $11.1 million offering. The company is also nearing a definitive agreement to acquire a millwork, cabinetry, and door manufacturer, expected to be their most profitable transaction to date.

1847 Holdings (NYSE American: EFSH) has closed its previously announced public offering, raising $11.1 million in gross proceeds before deducting placement agent fees and expenses. The offering consisted of 8,809,512 units priced at $1.26 per unit. Each unit includes one common share or a pre-funded warrant, plus two series of warrants: Series A with an exercise price of $1.90 and Series B at $2.52 per share. Spartan Capital Securities served as the sole placement agent for the offering.

1847 Holdings (NYSE American: EFSH) announced the pricing of an $11.1 million public offering. The offering consists of 8,809,512 units priced at $1.26 per unit. Each unit includes one common share or a pre-funded warrant ($0.01 exercise price), plus two additional warrants: a series A warrant ($1.90 exercise price) and a series B warrant ($2.52 exercise price) to purchase common shares. Spartan Capital Securities is serving as the sole placement agent, with the offering expected to close around October 30, 2024.

1847 Holdings (NYSE American:EFSH) has successfully sold High Mountain Door & Trim Inc. (HMDT), a division of 1847 Cabinets, to Builders FirstSource, Inc. for more than double the original purchase price. HMDT, founded in 2014 and based in Reno, Nevada, specializes in finished carpentry products and services. The sale includes HMDT's operating assets, subject to net working capital adjustment and other customary terms.

CEO Ellery W. Roberts stated that the proceeds will be used to strengthen 1847's financial position, pursue new growth initiatives, and potentially acquire other companies offering accretive value and positive cash flow. This transaction is part of 1847's strategy to optimize asset allocation and enhance shareholder returns, highlighting the gap between the company's market valuation and the intrinsic value of its portfolio companies.

1847 Holdings (NYSE American: EFSH) reported its Q2 2024 financial results, showing a 4% sequential revenue increase and a 14.2% year-over-year gross profit growth. The company achieved total revenues of $15,501,359, down from $17,362,093 in Q2 2023. Despite revenue decreases across all segments, 1847 improved its gross profit to $6.7 million, up from $5.9 million in Q2 2023. The company also eliminated $4.2 million of debt through the sale of ICU Eyewear. 1847 is finalizing an acquisition of a millwork manufacturer and plans to sell a division of 1847 Cabinets Inc. by mid-September 2024. However, the company reported a net loss from continuing operations of $4,906,812, wider than the $3,361,797 loss in Q2 2023.