NEW YORK, NY, Oct. 31, 2024 (GLOBE NEWSWIRE) -- 1847 Holdings LLC (NYSE American: EFSH) ("1847 Holdings" or the "Company"), a holding company focused on identifying and investing in high-potential middle-market businesses, announced today the successful close of its fully marketed public offering, generating gross proceeds of $11.1 million, prior to deducting placement agent fees and other offering expenses.
The offering comprised 8,809,512 units at a public offering price of $1.26 per unit. Each unit includes (i) one common share or a pre-funded warrant to purchase one common share at an exercise price of $0.01 per share, (ii) a series A warrant to purchase one common share at an exercise price of $1.90 per share, and (iii) a series B warrant to purchase one common share at an exercise price of $2.52 per share.
Spartan Capital Securities, LLC acted as the exclusive placement agent for this offering, assisting 1847 Holdings LLC in reaching this milestone.
A registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission ("SEC") on October 28, 2024. A final prospectus, which includes detailed information on the terms of the offering, was filed with the SEC on October 30, 2024, and is available on the SEC’s website at www.sec.gov. Copies of the prospectus may also be obtained from Spartan Capital Securities, LLC, 45 Broadway, New York, NY 10006, at (212) 293-0123.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such 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 deploys 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.
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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:
Spartan Capital Securities, LLC
45 Broadway, 19th Floor
New York, NY 10006
investmentbanking@spartancapital.com
SOURCE: 1847 Holdings LLC
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