2023-07-05 05:45:34 ET
- 1847 Holdings ( NYSE: EFSH ) on Tuesday priced a public offering of its common shares to raise $1.87 million.
-
Shares -37.14% at $0.22 in premarket trade on Wednesday.
-
The company said it will offer 9.35 million shares of common shares and/or pre-funded warrants in lieu of shares, priced at a public offering price of $0.20 for one common share or pre-funded warrant.
-
The pre-funded warrants are given to buyers in place of common shares that would otherwise result in their beneficial ownership of the company's outstanding common shares exceeding 4.99%, exercisable at any time to purchase one common share at $0.01/share.
-
Net proceeds from the offering will be used for working capital and general corporate purposes.
For further details see:
1847 stock dips on pricing $1.87M securities offering