NEW YORK, N.Y. — 1847 Holdings LLC, the holding company that owns cabinet and millwork companies as well as companies in other markets, has closed a fully marketed public offering of securities for gross proceeds of $11.1 million, prior to deducting placement agent fees and other offering expenses payable by the Company.

The public offering was comprised of 8,809,512 units, at a public offering price of $1.26 per unit. Each unit is comprised of (i) one (1) common share or a pre-funded warrant to purchase one (1) common share at an exercise price of $0.01 per share, (ii) a series A warrant to purchase one (1) common share at an exercise price of $1.90 per share and (iii) a series B warrant to purchase one (1) common share at an exercise price of $2.52 per share.

Spartan Capital Securities, LLC acted as the sole placement agent in connection with the offering.

The company also announced a 1-for-15 reverse split of its common shares effective on November 11, 2024. Ellery W. Roberts, CEO of 1847, stated, "We have decided to initiate a reverse stock split as a strategic measure to strengthen our market position and expand access to growth opportunities. This move aligns with our long-term vision, enhancing our profile within the investment community and positioning us to execute our acquisition strategy with greater impact. Our focus remains on acquiring accretive, cash-flow-generating businesses in the lower-middle market at compelling valuations, enabling us to build a strong foundation for future growth.

"Recently, we completed the sale of High Mountain Door & Trim Inc., a division of 1847 Cabinets, to Builders FirstSource, Inc., the largest supplier of building products and prefabricated components in the U.S. This transaction, completed at more than twice our original purchase price, highlights our expertise in acquiring, operating, and optimizing assets to realize substantial value. We are also approaching a definitive agreement to acquire a premier millwork, cabinetry, and door manufacturer at a highly favorable EBITDA multiple, which is expected to become our most profitable transaction to date," concluded Roberts.