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1847 Holdings Receives Delisting Notice from the NYSE American

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1847 Holdings (OTC PINK:EFSH) has received a delisting notice from NYSE American, resulting in immediate suspension of trading of its common shares. The delisting is due to the low selling price of shares under Section 1003(f)(v) of the NYSE American Company Guide. The company's shares will transition to trading on the OTC PINK Market under symbol 'EFSH'.

The company plans to proceed with a previously announced exchange offer allowing shareholders to convert common shares into newly issued Series G Preferred Shares with a stated value of $0.15. These preferred shares will carry a 15% annual cumulative cash dividend and be convertible into common shares at $2.40 per share. The company maintains the option to redeem preferred shares at 110% of stated value.

The company has until April 10, 2025 to appeal the delisting decision. The transition is not expected to impact business operations, partnerships, or SEC reporting obligations.

1847 Holdings (OTC PINK:EFSH) ha ricevuto una notifica di delisting dalla NYSE American, che ha comportato la sospensione immediata della negoziazione delle sue azioni ordinarie. Il delisting è dovuto al basso prezzo di vendita delle azioni ai sensi della Sezione 1003(f)(v) della Guida per le Aziende della NYSE American. Le azioni della società passeranno a essere negoziate sul Mercato OTC PINK con il simbolo 'EFSH'.

La società prevede di procedere con un'offerta di scambio precedentemente annunciata che consente agli azionisti di convertire le azioni ordinarie in nuove Azioni Preferenziali di Serie G con un valore nominale di $0,15. Queste azioni preferenziali porteranno un dividendo annuale cumulativo in contante del 15% e saranno convertibili in azioni ordinarie a $2,40 per azione. La società mantiene l'opzione di riscattare le azioni preferenziali al 110% del valore nominale.

La società ha tempo fino al 10 aprile 2025 per presentare ricorso contro la decisione di delisting. Non ci si aspetta che la transizione influisca sulle operazioni aziendali, le partnership o gli obblighi di reporting presso la SEC.

1847 Holdings (OTC PINK:EFSH) ha recibido un aviso de deslistado de la NYSE American, lo que ha resultado en la suspensión inmediata de la negociación de sus acciones ordinarias. El deslistado se debe al bajo precio de venta de las acciones bajo la Sección 1003(f)(v) de la Guía de Empresas de la NYSE American. Las acciones de la compañía pasarán a negociarse en el Mercado OTC PINK bajo el símbolo 'EFSH'.

La empresa planea proceder con una oferta de intercambio previamente anunciada que permitirá a los accionistas convertir acciones ordinarias en Acciones Preferentes de Serie G recién emitidas con un valor nominal de $0.15. Estas acciones preferentes llevarán un dividendo anual acumulativo en efectivo del 15% y serán convertibles en acciones ordinarias a $2.40 por acción. La compañía mantiene la opción de redimir acciones preferentes al 110% del valor nominal.

La empresa tiene hasta el 10 de abril de 2025 para apelar la decisión de deslistado. No se espera que la transición afecte las operaciones comerciales, las asociaciones o las obligaciones de informes ante la SEC.

1847 Holdings (OTC PINK:EFSH)는 NYSE American으로부터 상장 폐지 통지를 받았으며, 이로 인해 보통주 거래가 즉시 중단되었습니다. 상장 폐지는 NYSE American 회사 가이드의 섹션 1003(f)(v)에 따라 주식의 낮은 판매 가격으로 인한 것입니다. 회사의 주식은 'EFSH' 기호 아래 OTC PINK 시장에서 거래될 예정입니다.

회사는 주주가 보통주를 새로 발행된 G 시리즈 우선주로 전환할 수 있는 이전에 발표된 교환 제안을 진행할 계획입니다. 이 우선주는 $0.15의 명목 가치를 가지며, 연 15% 누적 현금 배당금을 지급하고 주당 $2.40로 보통주로 전환 가능합니다. 회사는 명목 가치의 110%로 우선주를 상환할 수 있는 옵션을 유지합니다.

회사는 2025년 4월 10일까지 상장 폐지 결정에 이의를 제기할 수 있습니다. 이 전환이 사업 운영, 파트너십 또는 SEC 보고 의무에 영향을 미치지 않을 것으로 예상됩니다.

1847 Holdings (OTC PINK:EFSH) a reçu un avis de radiation de la NYSE American, entraînant la suspension immédiate de la négociation de ses actions ordinaires. La radiation est due au faible prix de vente des actions selon la section 1003(f)(v) du Guide des entreprises de la NYSE American. Les actions de la société passeront à la négociation sur le Marché OTC PINK sous le symbole 'EFSH'.

La société prévoit de procéder à une offre d'échange précédemment annoncée permettant aux actionnaires de convertir des actions ordinaires en Actions Préférentielles de Série G nouvellement émises avec une valeur nominale de 0,15 $. Ces actions préférentielles porteront un dividende annuel cumulatif en espèces de 15% et seront convertibles en actions ordinaires à 2,40 $ par action. La société se réserve le droit de racheter les actions préférentielles à 110 % de leur valeur nominale.

La société a jusqu'au 10 avril 2025 pour faire appel de la décision de radiation. La transition ne devrait pas affecter les opérations commerciales, les partenariats ou les obligations de reporting auprès de la SEC.

1847 Holdings (OTC PINK:EFSH) hat eine Abmeldung von der NYSE American erhalten, was zu einer sofortigen Aussetzung des Handels mit ihren Stammaktien geführt hat. Die Abmeldung erfolgt aufgrund des niedrigen Verkaufspreises der Aktien gemäß Abschnitt 1003(f)(v) des NYSE American Unternehmensleitfadens. Die Aktien des Unternehmens werden unter dem Symbol 'EFSH' auf dem OTC PINK Markt gehandelt.

Das Unternehmen plant, mit einem zuvor angekündigten Umtauschangebot fortzufahren, das es den Aktionären ermöglicht, Stammaktien in neu ausgegebene Serie G Vorzugsaktien mit einem Nennwert von 0,15 USD umzuwandeln. Diese Vorzugsaktien werden eine jährliche kumulierte Barausschüttung von 15% tragen und zu einem Preis von 2,40 USD pro Aktie in Stammaktien umwandelbar sein. Das Unternehmen behält sich das Recht vor, Vorzugsaktien zum 110% des Nennwerts einzulösen.

Das Unternehmen hat bis zum 10. April 2025 Zeit, um gegen die Abmeldungsentscheidung Berufung einzulegen. Es wird nicht erwartet, dass der Übergang die Geschäftstätigkeiten, Partnerschaften oder Berichtspflichten gegenüber der SEC beeinträchtigt.

Positive
  • Company offering 15% annual cumulative cash dividend on new preferred shares
  • Business operations, partnerships, and SEC reporting obligations remain unchanged
  • Company maintains option to redeem preferred shares at 110% of stated value
Negative
  • Delisting from NYSE American due to low share price
  • Immediate suspension of trading on NYSE American
  • Downgrade to less prestigious OTC Pink Market trading
  • Forced conversion of common shares to preferred shares indicates financial distress

Company Expects to Move Forward with Previously Announced Exchange Offer

NEW YORK CITY, NY / ACCESS Newswire / April 4, 2025 / (OTC PINK:EFSH) ("1847 Holdings" or the "Company") today announced that it received notification from NYSE American LLC indicating that the staff of NYSE Regulation has determined to commence proceedings to delist the common shares of 1847 Holdings from NYSE American. Trading in the Company's common shares was suspended immediately. NYSE Regulation determined that the Company is no longer suitable for listing pursuant to Section 1003(f)(v) of the NYSE American Company Guide due to the low selling price of the common shares. The Company has a right to a review of the staff's determination to delist the Company's common shares by providing required notice on or before April 10, 2025.

The Company anticipates that its common shares will now begin trading publicly on the OTC PINK Market under the symbol "EFSH". This transition to the OTC Markets is not expected to affect the Company's business operations, its relationships with partners or employees, or its current Securities and Exchange Commission reporting obligations. Shareholders do not need to take any action in connection with this transition. Once the Company's common shares commence trading on the OTC Pink Market investors should be able to trade shares through their existing brokerage accounts.

The Company expects to move forward with a planned exchange offer (the "Offer"). The Company recently announced that its board of directors approved a proposed Offer that will allow current shareholders to exchange their common shares for newly issued Series G Preferred Shares (the "Preferred Shares"). The Offer will be made on the terms and subject to the conditions set forth in the Company's Offer to Exchange (as amended or supplemented from time to time, this "Offer to Exchange") and the related exchange offer materials (collectively, the "Offer Documents"). As soon as the Exchange Offer commences, the Company will file a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission, which will include an Exchange Offer and related letter of transmittal. The Preferred Shares are expected to have a stated value of $0.15, subject to adjustments for share splits, mergers, recapitalizations, and similar events. The Preferred Shares are expected to carry a 15% annual cumulative cash dividend on their stated value, payable annually. The Company may, under the expected terms of the Offer, at its sole option, redeem the Preferred Shares at 110% of their stated value at any time. Subject to certain restrictions that will be described in the Offer Documents and in the Company's governing documents, each Preferred Share is expected to be convertible into Common Shares at a conversion price of $2.40 per share (subject to adjustment for stock splits, stock combinations, recapitalizations and similar transactions), with no variable rate or floating conversions.

This press release is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell, or a recommendation regarding any securities. Any such offer, solicitation, or recommendation will be made solely by means a Schedule TO and related Offer Documents filed with the Securities and Exchange Commission ("SEC"). COMMON SHAREHOLDERS ARE URGED TO READ THE SCHEDULE TO AND OFFER DOCUMENTS AND ANY SOLICITATION/RECOMMENDATION STATEMENT REGARDING THE EXCHANGE OFFER, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF COMMON SHARES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING EXCHANGING THEIR SHARES. When filed, common shareholders may obtain a free copy of any of these statements and other documents filed with the SEC at the website maintained by the SEC at www.sec.gov or by directing such requests to the Company or obtaining the same from the Company's website at www.1847holdings.com.

About 1847 Holdings
1847 Holdings LLC, 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 ACCESS Newswire

FAQ

Why is EFSH being delisted from NYSE American?

EFSH is being delisted due to low selling price of common shares, according to Section 1003(f)(v) of NYSE American Company Guide.

What happens to EFSH shares after NYSE American delisting?

EFSH shares will transition to trading on the OTC PINK Market under the same symbol 'EFSH'.

What are the terms of EFSH's Series G Preferred Shares exchange offer?

Shareholders can exchange common shares for preferred shares with $0.15 stated value, 15% annual dividend, and conversion rights at $2.40 per share.

When is the deadline for EFSH to appeal the NYSE American delisting?

1847 Holdings has until April 10, 2025 to appeal the delisting decision.

Can EFSH redeem the Series G Preferred Shares?

Yes, the company can redeem preferred shares at 110% of stated value at any time at its discretion.
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