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1847 Holdings Announces Expected $5.4 Million Debt Reduction Through Conversion Into Restricted Common Shares of the Company

NEW YORK NY / ACCESSWIRE / July 28, 2022 / 1847 Holdings LLC (OTCQB:EFSH) ("1847 Holdings"), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced that the Company has come to agreement with several holders of its subsidiaries' indebtedness and a holder of accounts payable to convert $5.4 million in debt and accounts payable to restricted shares of common stock, which will further strengthen the corporate balance sheet and increase shareholder value.

The conversion of the debt and accounts payable is being effected through conversion agreements entered into with the holders of such debt and accounts payable. These conversion agreements provide that the debt and accounts payable will automatically convert into the Company's common shares at a price equal to the public offering price at the time that the company's Registration Statement on Form S-1 (File No. 333-259011) is declared effective by the SEC in connection with the Company's proposed public offering. The conversion of the debt and accounts payable is conditioned upon such registration statement being declared effective.

For additional information on this transaction, see the associated Form 8-K which will be available at the following link:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1599407/000121390022042022/ea163424-8k_1847hold.htm

About 1847 Holdings LLC

1847 Holdings LLC (OTCQB: 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.

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:

Investor Relations
Hanover International
info@1847holdings.com

SOURCE: 1847 Holdings LLC



View source version on accesswire.com:
https://www.accesswire.com/710081/1847-Holdings-Announces-Expected-54-Million-Debt-Reduction-Through-Conversion-Into-Restricted-Common-Shares-of-the-Company

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