1847 Holdings LLC Announces Pricing of Public Offering of Common Shares

Rhea-AI Summary

1847 Holdings (NYSE American:EFSH) announced an underwritten public offering of 1,428,572 Common Shares at $4.20 per share, aiming for approximately $6 million in gross proceeds. An additional option for underwriters to purchase 214,286 shares is included. Trading is set to begin on August 3, 2022, with closing anticipated around August 5, 2022, pending customary conditions. This move supports 1847 Holdings' strategy of acquiring lower-middle market businesses and enhancing their operations.

Positive

• The offering aims to raise approximately $6 million for business development.
• The additional share purchase option provides flexibility for underwriters and potential additional capital.

Negative

• The issuance of new shares could lead to shareholder dilution.

NEW YORK, NY / ACCESSWIRE / August 2, 2022 / 1847 Holdings LLC ("1847 Holdings" or the "Company") (NYSE American:EFSH), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced the pricing of its underwritten public offering of 1,428,572 Common Shares at a price to the public of $4.20 per share. The gross proceeds from this offering, before deducting underwriting discounts and commissions and other offering expenses payable by 1847 Holdings, are expected to be approximately $6 million. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 214,286 Common Shares (equal to 15% of the Common Shares sold in the offering), at the public offering price less the underwriting discounts and commissions, to cover over-allotments, if any.

The Common Shares are expected to begin trading on the NYSE American under the symbol "EFSH" on August 3, 2022. The offering is expected to close on or about August 5, 2022, subject to satisfaction of customary closing conditions.

Craft Capital Management LLC and R.F. Lafferty & Co. are acting as Co-Managers on the follow-on offering and the NYSE-American uplisting.

The registration statement on Form S-1, as amended (File No. 333-259011), was filed with the Securities and Exchange Commission ("SEC") and was declared effective on August 2, 2022. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov or from:

Craft Capital Management LLC, 377 Oak St, Lower Concourse, Garden City, NY 11530 ​

R.F. Lafferty & Co., 40 Wall Street, 29^th Floor, New York, NY 10005

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About 1847 Holdings LLC

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.

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:

Investor Relations
Hanover International
info@1847holdings.com

SOURCE: 1847 Holdings LLC

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FAQ

What is the purpose of the public offering by 1847 Holdings?

The public offering aims to raise approximately $6 million to support the company's strategy of acquiring and enhancing lower-middle market businesses.

When will the trading of EFSH shares begin?

Trading of 1847 Holdings' common shares under the symbol EFSH is set to begin on August 3, 2022.

How many shares are included in the offering?

The offering includes 1,428,572 Common Shares, with an additional option for underwriters to purchase 214,286 shares.

What are the financial implications of this offering for EFSH shareholders?

The public offering could result in shareholder dilution due to the issuance of new shares, although it may also provide funding for future growth.