1847 Holdings LLC - EFSH STOCK NEWS

1847 Holdings (NYSE American:EFSH) announced a strategic collaboration between its subsidiaries, ICU Eyewear and Wolo Manufacturing, to develop safety glasses for the automotive market. ICU, known for OTC eyewear, and Wolo, a manufacturer of vehicle safety products, aim to address the increasing demand for safety eyewear in automotive settings. The global safety eyewear market was valued at $3.74 billion in 2021 and is expected to grow at a CAGR of 4.4% through 2030. The partnership is expected to leverage ICU's extensive retail presence and Wolo's industry expertise, with plans to launch the new product line in Q3 2023. However, the company highlighted a going concern issue in its 2022 financial statements, requiring public disclosure as per NYSE regulations.

1847 Holdings LLC (NYSE American:EFSH) announced a significant purchase order valued at over $260,000 for personal care products from a major supermarket chain in Florida. This order comes from ICU Eyewear Holdings Inc., a subsidiary that specializes in Over-the-Counter eyewear and PPE products. Since ICU's acquisition in February 2023, the company has expanded its offerings and distribution network, highlighting strong sales momentum, especially at retailers like Target. CEO Ellery W. Roberts emphasized the importance of this order as a validation of their acquisition strategy and ongoing business growth.

1847 Holdings aims to leverage capital market inefficiencies to enhance the performance of lower-middle market businesses, ultimately leading to potential higher valuations or consistent dividends for shareholders.

1847 Holdings LLC (NYSE American: EFSH) reports a remarkable 59.6% revenue increase, totaling $48.9 million for 2022, up from $30.7 million in 2021. The company anticipates a further surge in revenue, projecting over $90 million for 2023. Gross profit rose by 48.7% to $15.7 million. The firm has expanded its footprint in the construction and cabinets sectors, contributing to a substantial 160.3% revenue increase in the construction segment. However, the retail segment experienced a 16.2% decline due to supply chain challenges and decreased demand.

1847 Holdings LLC (NYSE American:EFSH) announced the closure of an unsecured debt financing with Mast Hill Fund, totaling $878,000. This includes an original issue discount of $87,800 and two five-year warrants for purchasing up to 381,260 common shares at varying exercise prices. CEO Ellery W. Roberts stated that this capital will support growth ahead of a revolving credit facility expected to be finalized by the end of the quarter. The financing reflects continued institutional support as the company aims to strengthen its business infrastructure and pursue potential growth opportunities.

1847 Holdings LLC (NYSE American:EFSH) has appointed Glyn C. Milburn as Vice President of Operations, following the resignation of Eric VanDam, who left for personal reasons. Milburn, a board member since August 2022, brings significant experience from prior roles including Director at Ygrene Energy Fund and partner at Jimmy Blackman & Associates. CEO Ellery W. Roberts expressed confidence in Milburn's ability to drive growth and maintain the company's strategic direction. 1847 Holdings focuses on acquiring lower-middle market businesses, aiming to enhance their value for dividends and potential future sales or IPOs.

1847 Holdings (NYSE American: EFSH) announced the acquisition of ICU Eyewear Holdings Inc. for $4.5 million, comprising $4 million in cash and $500,000 in unsecured promissory notes. ICU, founded in 1956, is a leader in the design of OTC eyewear with over 3,000 SKUs. The acquisition is part of 1847's strategy to build a diversified portfolio of cash flow positive businesses. Additionally, 1847 secured approximately $2.8 million through unsecured debt financing from institutional investors, aimed at accelerating growth while minimizing equity dilution. ICU reported over $190 million in revenue and $17 million in adjusted EBITDA in 2021.

1847 Holdings LLC (NYSE American: EFSH) provided an update on its recently announced dividend in the form of warrants to purchase common shares at $4.20 each. CEO Ellery W. Roberts stated that the special warrant dividend aims to identify potential market manipulation regarding the Company’s shares. Shareholders who have not received their warrants are encouraged to contact the Company directly. 1847 Holdings focuses on acquiring lower-middle market businesses, aiming to enhance their infrastructure and operations for potential profitable exits, benefiting shareholders with consistent dividends.

1847 Holdings LLC (NYSE American: EFSH) announced that its subsidiary, 1847 Cabinets Inc., has partnered with ThinkEquity to evaluate strategic options, which may include a sale or spin-off. The objective is to capitalize on 1847 Cabinets' growth and favorable outlook. CEO Ellery W. Roberts highlighted a perceived disconnect between market value and the true intrinsic value of 1847 Holdings. There is no guarantee of a strategic outcome, and the process timeline remains unspecified.