1847 Holdings Request for Withdrawal of Registration Statement on Form S-3

March 26, 2024 at 05:30 AM EDT

NEW YORK, NY / ACCESSWIRE / March 26, 2024 / 1847 Holdings LLC ("1847" or the "Company") (NYSE American:EFSH), a holding company specializing in identifying over-looked, deep value investment opportunities in middle market businesses, filed a Request for Withdrawal with the SEC on March 22, 2024 relating to withdrawal of the Company's Registration Statement on Form S-3, filed with the Commission on February 1, 2023.

The registration statement, which covered shares issuable upon the exercise of a warrant that was declared as a dividend, is no longer needed because those shares may now be issued under an exemption from the registration requirements of the Securities Act. The Company confirms that no shares have been sold pursuant to the Registration Statement.

Ellery Roberts, CEO of 1847 stated, "It is important to make sure our shareholders understand that we are not actively raising capital, nor are we intending to issue shares this time. In our view, leaving an open registration statement conveys the wrong message to shareholders."

Mr. Roberts continued, "We do not believe our current market capitalization accurately reflects the true value of our operating company portfolio, or the incremental value of the Company's public listing. We've made significant strides in building value within our portfolio, including the recent announcements regarding:

ICU Eyewear: We recently expanded our relationship with a national retail partner, expanding into an additional 300 locations retail locations across the US. As a result, our growth outlook for this business is well above our industry peer group for the foreseeable future. We also made significant progress optimizing our manufacturing capabilities and expect to improve margins by upwards of 12% in 2024. These two developments alone are expected to dramatically improve our cash flows in ICU Eyewear in 2024 and beyond.

Signature Home Craft: We recently engaged Spartan Capital to help evaluate our ability to spin off our rebranded cabinet business into its own independently listed company. With the existing scale and profitability profile, we believe our cabinet operations have the growth potential to create lasting shareholder value as a standalone business. We view this as a top priority for execution in 2024.

Wolo Manufacturing: We recently executed a working capital revolving line of credit facility for $750,000 to support the operations of Wolo. With this capital we are quickly turning our focus to driving additional revenue growth using non-dilutive capital to enhance shareholder value.

Roberts continued, "We believe that as the public markets better appreciates the impact of our recent initiatives, we will see these actions reflected in a higher valuation for 1847 Holdings shareholders. We have enjoyed a strong track record opportunistically acquiring small companies, strengthening their operations, and unlocking shareholder value through either a sale or IPO at higher valuations."

"We expect to achieve a number of milestones in the coming months that will demonstrate our continued ability to execute this growth strategy. This success has attracted attention from industry leaders resulting in unsolicited Indications of Interest for more than one of our subsidiaries," concluded Mr. Roberts.

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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1847 Holdings Request for Withdrawal of Registration Statement on Form S-3

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