EFSH....You have to read this !!! I can't believe this Co...Can get away with 3 RS's in 1 year...... Sheesh. The Director makes it sound like they're doing a great job for the Shareholders. What a "crock o chit"
1847 Holdings Announces 1-for-15 Reverse Split
2024-11-01 13:08 PT - News Release
NEW YORK, NY / ACCESSWIRE / November 1, 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, today announced that it will effect a 1-for-15 reverse split ("reverse split") of its common shares that will become effective on November 11, 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 November 11, 2024. The new CUSIP number for the common shares following the reverse split will be 28252B853. The reverse split will reduce the number of outstanding common shares and the number of common shares in the Company's float from approximately 11.4 million shares to approximately 0.76 million shares.
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. In addition, we successfully closed an $11.1 million offering, further strengthening our balance sheet. 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 Mr. Roberts.
About 1847 Holdings LLC