1847 Holdings Announces Special Dividend of Series E Preferred Shares

Rhea-AI Summary

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.

Positive

• High voting power of 1,000,000 votes per Series E Preferred Share
• 1:1 distribution ratio for existing shareholders

Negative

• No dividend payments on Series E Preferred Shares
• lifespan of shares due to automatic redemption
• Restricted voting purpose only for specific proposals

NEW YORK, NY / ACCESSWIRE / December 31, 2024 / 1847 Holdings LLC (NYSE American:EFSH) ("1847 Holdings" or the "Company") today announced that its Board of Directors has declared a special dividend of newly designated Series E Preferred Shares. Each holder of the Company's Common Shares as of the record date of January 10, 2025 will receive one (1) Series E Preferred Share for each Common Share held.

Each outstanding Series E Preferred Share will have 1,000,000 votes per share and will vote together with the outstanding Common Shares as a single class exclusively with respect to certain proposals to be presented at an upcoming shareholder meeting. All Series E Preferred Shares that are not voted prior to the opening of the shareholder meeting will automatically be redeemed prior to the opening of such meeting and all shares that are not redeemed at that time will automatically be redeemed upon the approval of the proposals, with the redemption terms detailed in the Share Designation, dated December 30, 2024. The holders of Series E Preferred Shares will not be entitled to receive dividends of any kind on the Series E Preferred Shares.

The Series E Preferred Shares will not be issued in physical form and will be represented in book-entry format. No fractional shares will be issued.

The cut-off date for the Company's transfer agent, VStock Transfer, LLC, to accept instructions from brokers regarding the allocation of full shares to clients for shares registered in their names, as nominees, will be January 17, 2025. Brokers must ensure that all allocations and instructions are finalized by this date.

For more information, shareholders are encouraged to review the Company's current report on Form 8-K, filed with the Securities and Exchange Commission on December 31, 2024.

About 1847 Holdings

1847 Holdings LLC (NYSE American: EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders. For more information, visit www.1847holdings.com.

For the latest insights, follow 1847 on Twitter.

Forward Looking Statements

This press release may contain information about 1847 Holdings' view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management's beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in "Risk Factors" included in our SEC filings.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: EFSH@crescendo-ir.com

SOURCE: 1847 Holdings LLC

View the original press release on accesswire.com

FAQ

What is the record date for 1847 Holdings' (EFSH) Series E Preferred Share dividend?

The record date for the Series E Preferred Share dividend is January 10, 2025.

How many Series E Preferred Shares will EFSH shareholders receive?

Shareholders will receive one (1) Series E Preferred Share for each Common Share held.

What voting rights do EFSH's Series E Preferred Shares carry?

Each Series E Preferred Share carries 1,000,000 votes and will vote together with Common Shares on specific shareholder meeting proposals.

When will EFSH's Series E Preferred Shares be redeemed?

The shares will be automatically redeemed if not voted before the shareholder meeting opens or upon approval of the proposals.

What is the deadline for brokers to submit allocation instructions for EFSH's Series E Preferred Shares?

Brokers must submit allocation instructions to VStock Transfer by January 17, 2025.