1847 Holdings LLC, a holding company with companies in the cabinet and millwork industry, has secured a private placement for gross proceeds of $11.42 million, prior to deducting placement agent fees and other expenses payable, to fund an acquisition.

The company said that proceeds from the private placement are exclusively intended to fund the previously announced planned acquisition of a millwork, cabinetry, and door manufacturer. As previously reported, the millwork, cabinetry, and door manufacturer, based in Las Vegas, had unaudited revenue of $33.1 million and net income of $10.4 million for the trailing twelve months ended September 30, 2024. The acquisition is expected to close imminently, with final steps underway.

The private placement consists of 42,311,118 units consisting of (i) one common share and/or a pre-funded warrant to purchase one common share at an exercise price of $0.01, (ii) one series A warrant to purchase one common share at an exercise price of $0.81 (subject to adjustments), and (iii) one series B warrant to purchase one common share at an exercise price of $0.54 (subject to adjustments). Additional details on the transaction will be available in the Company's Form 8-K, which will be filed with the U.S. Securities and Exchange Commission and available at www.sec.gov.