1847 Holdings Announces Plans for Up To $25 Million Capital Raise
11 1월 2021 - 10:00PM
1847 Holdings LLC (OTCQB: EFSH) (the “Company” or “1847 Holdings”),
a publicly traded, diversified acquisition holding company that
leverages its management expertise to acquire lower-middle market
businesses at attractive valuations in industries with unique
characteristics and defensible market positions, today announced
that it plans to launch a capital raising effort under Regulation
D, Rule 506(c) of the Securities Act. The targeted amount of the
14% Series B Convertible Preferred Share capital raise is $25
million. The use of proceeds for the offering will be primarily for
working capital and future acquisitions.
Recently, on July 31, 2020, the Company
successfully spun-off into an IPO one of its operating
subsidiaries, 1847 Goedeker Inc. (NYSE:GOED), achieving a gross
multiple on investment of 42x in sixteen months. 1847 Holdings’
current operating subsidiaries include Neese, an established
agricultural services company, Asien’s Appliances, a leading Bay
Area appliance retailer, and Kyle’s Custom Wood Shop, Inc., a
custom cabinet manufacturer servicing the fast-growing economy of
Boise, Idaho. The Company is poised for rapid growth as it
continues to execute on its strategy of acquiring lower-middle
market businesses at attractive valuations.
Ellery W. Roberts, CEO of 1847 Holdings,
commented, “This capital raise is the next logical step for our
company as it will provide sufficient capital to continue to build
on our successes of 2020, which included the IPO of 1847 Goedeker.
The Goedeker’s IPO demonstrated the economic power of our
opportunistic business model. We acquired Goedeker’s for
approximately $7 million, investing $714,000 for 54% of the company
on a fully diluted basis. Today, 1847 Goedeker Inc. is valued at
approximately $50 million. Shareholders of 1847 Holdings received
2.6 million shares of GOED, in the aggregate, through a share
dividend. I expect 2021 to be another marquee year for 1847
Holdings, as we focus on growing the revenue and earnings of our
existing operating subsidiaries and acquiring additional operating
businesses as either add-ons or new platform subsidiaries.”
Mr. Roberts added, “We recently closed an
offering of approximately $5 million to hedge funds, family offices
and other institutional investors. Now we plan to offer an almost
identical security to the public, giving everyday investors the
opportunity to invest in a security normally available only to
institutional investors.”
Interested parties should contact Dave Gentry,
the CEO of Red Chip Companies, the Company’s investor relations
firm, using the contact details at the end of this press
release.
About 1847 Holdings LLC
1847 Holdings LLC (OTCQB: 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’s 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 can consistently
acquire “solid” businesses for reasonable multiples of cash flow
and then deploys resources to strengthen the infrastructure and
systems to improve operations. These improvements may lead to a
sale or IPO of an operating subsidiary at considerably higher
valuations than the purchase price and/or alternatively, an
operating subsidiary may be held in perpetuity and contribute to
1847’s ability to pay regular and special dividends to
shareholders.
Important Notice Regarding the
Offering
This press release does not constitute an offer
to sell nor a solicitation of an offer to purchase any securities
in any jurisdiction in which such an offer or solicitation is not
authorized and does not constitute an offer within any jurisdiction
to any person to whom such offer would be unlawful. Offers and
sales of securities will only be made to accredited investors under
a private placement memorandum and other definitive documentation
and all accredited investors must be verified in accordance with
SEC rules. Further, the securities being offered by the Company
have not been registered under the Securities Act, any state
securities laws or the securities laws of any other jurisdiction
and may not be offered or sold absent registration or an applicable
exemption from the registration requirements.
Investing in private placements involves a high
degree of risk. Securities sold through private placements are
typically not publicly traded and, therefore, are less liquid.
Additionally, investors receive restricted shares that are subject
to holding period requirements. Companies seeking private placement
investments tend to be in earlier stages of development and have
not yet been fully tested in the public marketplace. Investing in
private placements requires a tolerance for high risk, low
liquidity, and a long-term commitment. Investors must be able to
afford to lose their entire investment. Such investment products
are not FDIC insured, may lose value, and have no bank
guarantee.
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, considering 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:
Dave Gentry, CEO RedChip Companies Office:
1.800.RED.CHIP (733.2447) Cell: 407.491.4498 dave@redchip.com
1847 Goedeker Inc. (NYSE:GOED)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
1847 Goedeker Inc. (NYSE:GOED)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024