On October 28, 2024, 1847 Holdings LLC (NYSE American: EFSH) finalized a venture capital deal worth $11.1 million through a public offering. This offering involved the issuance of 8,809,512 units at a price of $1.26 per unit. Each unit was made up of common shares, pre-funded warrants, series A warrants, and series B warrants, providing various purchase options for investors.
The purchase agreements included the issuance of common units and/or pre-funded units to specific purchasers. The company agreed to issue these units at a purchase price of $1.26 per unit, with total gross proceeds approximately totaling $11.1 million. This offering was conducted under the company’s registration statement on Form S-1 (File No. 333-282201) under the Securities Act of 1933.
The detailed breakdown of the units included 7,557,134 common shares and pre-funded warrants, series A warrants, and series B warrants, each with unique exercise prices. For instance, the pre-funded warrants have an exercise price of $0.01 per share and are exercisable until fully utilized. The series A warrants and series B warrants have exercise prices of $1.90 and $2.52 per share, respectively, and both will expire five years from the date of issuance.
Moreover, the agreements contained provisions for adjustments in the exercise prices and number of shares upon certain events like share dividends, splits, or reclassifications. The Purchase Agreement, Placement Agreement, and accompanying Warrants also featured standard legal clauses, representations, warranties, and covenants by 1847 Holdings LLC.
In conjunction with the offering, 1847 Holdings LLC issued press releases on October 28 and October 30, 2024, to announce the initiation and subsequent closing of the offering. Copies of these press releases are attached to the current report.
For further specifics on the deal, the attached exhibits to the SEC filing provide comprehensive details of the agreements entered into by 1847 Holdings LLC. Investors and stakeholders can access the full text of these documents for a more in-depth understanding of the transaction.
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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read 1847’s 8K filing here.
About 1847
1847 Holdings LLC engages in the acquisition and management of small businesses in different industries. It operates through the following segments: Retail and Appliances, Construction, and Automotive Supplies. The Retail and Appliances segment provides a wide variety of appliance services including sales, delivery, installation, service and repair, extended warranties, and financing.
