1847 Holdings LLC - EFSH STOCK NEWS

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.

1847 Holdings LLC (NYSE American:EFSH) has announced a special dividend in the form of warrants, issued to shareholders on January 3, 2023. Shareholders will receive one warrant for every ten common shares owned as of December 23, 2022, allowing the purchase of common shares at $4.20, expiring on January 3, 2026. The company anticipates revenues exceeding $60 million in 2023, driven by recent acquisitions. Warrants will be mailed to shareholders, and a registration statement is expected to be filed in Q1 2023.

1847 Holdings LLC (NYSE American: EFSH) announced a letter of intent for a $5 million revolving credit line to finance its acquisition of ICU Eyewear Holdings Inc.. ICU is expected to generate $25 million in revenue and $2 million in adjusted EBITDA in 2022. The transaction is anticipated to be highly accretive, enhancing financial flexibility without equity dilution. The company plans to defer its Q4 2022 dividend to maximize shareholder benefits from the acquisition. ICU is a well-established player in the OTC eyewear market with significant retail penetration.

1847 Holdings LLC (NYSE American: EFSH) announced the planned acquisition of ICU Eyewear Holdings Inc., expected to finalize in Q1 2023. The acquisition, valued at $4.5 million, involves $4 million in cash and notes. ICU, a leader in OTC eyewear with over 3,000 SKUs, generated $25 million in revenue and $2 million in adjusted EBITDA in 2022. ICU's market presence spans over 7,500 retail locations in the U.S., with plans to expand significantly by 2025.