1847 Holdings LLC - EFSH STOCK NEWS

1847 Holdings (NYSE American: EFSH) has announced a special dividend of newly designated Series E Preferred Shares. Shareholders of record as of January 10, 2025, will receive one Series E Preferred Share for each Common Share held. The Series E Preferred Shares will carry 1,000,000 votes per share and will vote together with Common Shares specifically on certain upcoming shareholder meeting proposals.

These preferred shares will not provide any dividends and will be automatically redeemed if not voted before the shareholder meeting opens or upon proposal approval. The shares will be issued in book-entry format only, with no physical certificates. Brokers must finalize allocation instructions with VStock Transfer by January 17, 2025.

1847 Holdings (NYSE American: EFSH) CEO shared a year-end letter highlighting the company's transformative 2024. Key developments include the sale of High Mountain Door & Trim for $17.0 million (7x adjusted EBITDA) and the acquisition of CMD Inc., a Las Vegas-based manufacturer with $33.1 million TTM revenue and $10.4 million net income as of October 2024.

The company's strategy focuses on acquiring businesses at 3.0-6.0x cash earnings (EBITDA) multiples, aiming to generate higher valuations through portfolio synergies. The company believes it's well-positioned to refinance debt and enhance shareholder value through operational growth and strategic acquisitions.

1847 Holdings (NYSE:EFSH) has completed the acquisition of CMD Inc., a Las Vegas-based cabinetry, millwork and door manufacturer, for approximately $18.75 million. CMD reported trailing twelve-month revenues of $33.1 million and net income of $10.4 million as of October 31, 2024.

The acquisition includes strategic expansion initiatives: CMD has obtained licenses to operate in Arizona and Utah, established a new division focused on tract home projects in Las Vegas, and plans to enter the Ready-To-Assemble (RTA) cabinetry market for multi-family housing through synergies with 1847's subsidiary, Innovative Cabinets and Design.

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.