1847 Holdings LLC (EFSH) has released an update.
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1847 Holdings LLC successfully completed a public offering on February 14, 2024, raising $5 million by selling common shares and pre-funded warrants. With an offering price of $1 per share and $0.99 per warrant, the company netted about $4.46 million after fees and expenses. These funds are earmarked for debt repayment, working capital, and general corporate purposes. The warrants, exercisable at $0.01 per share, come with terms to prevent ownership exceeding 4.99% per holder, unless legally increased. The company also committed to customary indemnifications for the purchasers and the placement agent involved in the offering.
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