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1847 Holdings Announces 1-for-4 Reverse Split

By: ACCESSWIRE

December 27, 2023 at 11:05 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Reverse Split is a Key Element of Company's Strategic Initiatives as It Prepares for Next Generation of Its Acquisition Financings

NEW YORK, NY / ACCESSWIRE / December 27, 2023 / 1847 Holdings LLC ("1847" or the "Company") (NYSE American:EFSH), a unique holding company that combines the attractive attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced that it will effect a 1-for-4 reverse split ("reverse split") of its common shares that will become effective on January 8, 2024. 1847's common shares will continue to trade on NYSE American under the symbol "EFSH" and will begin trading on a split-adjusted basis when the market opens on January 8, 2024. The new CUSIP number for the common shares following the reverse split will be 28252B879. The reverse split will reduce the number of outstanding shares of the Company's common shares from approximately 3.43 million shares to approximately 0.86 million shares and also reduce the Company's float from approximately 3.40 million shares to approximately 0.85 million shares.

"We continue to execute on our strategy of acquiring undervalued, cash flow positive, lower-middle market businesses at attractive valuations," stated Ellery W. Roberts, CEO of 1847. "Nevertheless, the overall capital markets remain challenging, and we believe this reverse split will tighten the public float in our stock, enabling us to attract a broader universe of institutional and other investors given the traction in our business. This strategic restructuring as part of the Company's capitalization acknowledges that reality and better positions the Company for our serial accretive acquisitions going forward."

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 deploy 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.

For the latest insights, follow 1847 on Twitter.

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:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: EFSH@crescendo-ir.com

SOURCE: 1847 Holdings LLC

View the original press release on accesswire.com

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