Source: Spartan Capital Securities, LLC
New York, NY, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Spartan Capital Securities, LLC, a leading investment banking firm, is pleased to announce its role as the sole placement agent in 1847 Holdings LLC’s (NYSE American: EFSH) $11.424 million private placement of units.
1847 Holdings LLC, a diversified acquisition holding company specializing in overlooked, deep-value investment opportunities, raised $11.424 million in gross proceeds through this private placement, prior to deducting placement agent fees and other expenses payable by the Company.
The private placement consisted of 42,311,118 units. Each unit comprised one common share and/or a pre-funded warrant to purchase one common share at an exercise price of $0.01, one series A warrant to purchase one common share at an exercise price of $0.81 (subject to adjustments), and one series B warrant to purchase one common share at an exercise price of $0.54 (subject to adjustments).
The proceeds from the offering will support 1847 Holdings’ previously announced planned acquisition of a millwork, cabinetry, and door manufacturer based in Las Vegas, Nevada. The acquisition, which reported unaudited revenue of $33.1 million and net income of $10.4 million for the trailing twelve months ended September 30, 2024, is expected to close imminently as final steps are completed.
Further details on the transaction will be available in the Company's Form 8-K, to be filed with the U.S. Securities and Exchange Commission and accessible at www.sec.gov.
Sichenzia Ross Ference Carmel LLP represented Spartan Capital Securities, LLC in the transaction.
“This private placement marks an important milestone for 1847 Holdings, enabling the company to execute its strategic acquisition plan,” said John Lowry, CEO of Spartan Capital Securities. “We are honored to have served as the sole placement agent in this transaction, and we look forward to supporting 1847 Holdings as it continues to execute its vision for long-term value creation.”
The common shares and the common shares issuable upon the conversion of the pre-funded warrants, series A warrants, and series B warrants have not been registered under the Securities Act of 1933, as amended, or any state securities laws. Until registered, they may not be offered or sold in the United States or any state absent registration or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under applicable securities laws.
About Spartan Capital Securities, LLC
Spartan Capital Securities, LLC is a premier full-service investment banking firm offering a comprehensive range of advisory services to institutional clients and high-net-worth individuals. Known for its expertise in capital raising, strategic advisory, and asset management, Spartan Capital delivers tailored solutions to meet clients' financial goals.
For more information about Spartan Capital Securities, visit www.spartancapital.com.
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