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1847 Goedeker Inc. Appoints Mike Durrick as Vice President of Distribution and Logistics
Mr. Durrick Brings More Than 20 Years of Supply Chain Experience to Goedeker’s Leadership Team
New Hire Reflects Company’s Commitment to Adding Senior Talent to Accelerate Ecommerce Growth
1847 Goedeker Inc. (NYSE American: GOED) ("Goedeker" or the "Company"), one of the largest specialty ecommerce players in the U.S. household appliances market, today announced that it has appointed Mike Durrick as Vice President of Distribution and Logistics. Mr. Durrick will lead the expansion, evolution and optimization of the Company’s nationwide fulfillment network. His start date is November 1, 2021.
Mr. Fouerti commented:
“As we work to implement our ecommerce-focused strategy, building a world-class fulfillment network and improving product delivery are top priorities. Mike has the experience and vision to bring best-in-class logistics and supply chain practices to Goedeker. His understanding of the home appliances market and relationships with a variety of partners and vendors will add immediate value to our business. I look forward to working closely with Mike as he grows his team and brings best practices to our supply chain.”
Mike Durrick Biography
Mr. Durrick is an accomplished supply chain executive with more than two decades of experience across domestic and global operations. Throughout his career, Mr. Durrick has held several leadership roles within best-in-class supply chain organizations such as FedEx and DHL. During his tenure at these organizations, Mr. Durrick handled customers such as Whirlpool, where he focused on returns and reverse logistics, and Home Depot, where he focused on forward and reverse of bulky seasonal items and traditional stocking items. His leadership abilities include implementing LEAN best practices, vendor management, building and developing teams, and deploying efficient processes. Through these competencies, he has been instrumental in realizing KPIs while delivering cost savings, improving inventory turnover, and satisfying customer needs at various organizations.
About Goedeker
Goedeker is an industry leading ecommerce destination for appliances, furniture and home goods. Through its June 2021 acquisition of Appliances Connection, Goedeker created one of the largest pure-play online retailers of household appliances in the United States. With warehouse fulfillment centers in the Northeast and Midwest, as well as showrooms in Brooklyn, New York, St. Louis, Missouri and Largo, Florida, Goedeker offers one-stop shopping for national and global brands. We carry many household name-brands, including Bosch, Cafe, Frigidaire Pro, Whirlpool, LG, and Samsung, and also carry many major luxury appliance brands such as Miele, Thermador, La Cornue, Dacor, Ilve, Jenn-Air and Viking among others. We also sell furniture, fitness equipment, plumbing fixtures, televisions, outdoor appliances, and patio furniture, as well as commercial appliances for builder and business clients. Learn more at www.Goedekers.com.
https://www.businesswire.com/news/home/20211103005335/en/
that dude
that used all that $GOED rent money to buy the stock must be sweating
-now they have to file when they sell this junk
I would say it’s coiling up for the fake run into the meeting but no one really owns this besides the box and the crushed innocent $GOED newbies who can’t afford to average down ….so……
it’s
getting closer to where it’s gonna take 2 shares of $GOED to buy a bottle of $5 wine at the supercenter
those poor innocent $GOED newbies gonna need to apply for government aid soon to get their wine o’clock on
maybe
$GOED can find more suckers tomorrow to buy
times a tickin
those poor innocent $GOED newbies
the good thing
is that the $GOED top line can be skewed by the overall price increases on everything creating an illusion of good revenues
don’t be fooooooooled
those darn vacuum cleaners getting so expensive
that means they got
13 days to lube so no ouchie this time
goooooooooo $GOED
Nov 10: "Company's inaugural Annual Meeting of Stockholders (the "Annual Meeting") for Wednesday, November 10, 2021."
https://finance.yahoo.com/news/1847-goedeker-sets-date-2021-213100448.html
remember when ……
$GOED used to give the multiple numbers updates about the “orders” and now it has stopped
wonder why?
- no financial updates going into the q ……. must mean they’re on target, right???
uh ooooooooh
big internet retailer lowers expections because of supply and worker shortages
but i’m sure $GOED is resilient
need some soap opera news to get it to go higher by the meeting
wake up wake up everyone
haaaaa just kidding nothing happening here
you can $GOED back to sleep
GOED GOT back most of my trading shares, at a few pennies loss this time.
Sometimes we have to recognize the scale has moved up.
Good problems!
MG
Yes, all these GREEN days start to wear on me...
I think
some of the $GOED soap opera viewers changed the channel - the storyline getting tired
the other $GOED baggies are watching
DOPE-RAH……YOU GET A TAX WRITE-OFF & YOU GET A TAX WRITE-OFF & YOU GET A TAX WRITE-OFF !!!
those poor innocent $GOED newbies
GOED I am in and excited for our prospects!
But I caution newbees not to get too carried away, putting too many of their eggs in this one basket.
Company is fledgling and inconvenient things like further Offerings (dilution) can surprise.
I have a healthy sized position and use about 20% of that to trade.
Company has a good model of drop shipping but sharp online pricing may be hindered by manufacturers advertising rules (MAP- Minimum Advertised Price Policy). Also, company may need to spend inordinately on advertising in the early goings to build identity.
It's way below the 50MA on the Weekly and way below the 200MA on the Daily which I think bodes well.
Go GOED... but go sensibly. Employ the diversification rule we all know is right to do.
MG
GOED New Board Director Selim Bassoul: Middleby Corporation
https://www.bing.com/search?q=the+middleby+corporation+nasdaq&form=ANNTH1&refig=fce32ff9a2eb4167ad273c34e35da984&sp=3&qs=AS&pq=the+middleby+corporation&sk=AS2&sc=8-24&cvid=fce32ff9a2eb4167ad273c34e35da984
I can’t
believe $GOED is struggling to stay green off such AMAZING news????
wait .. what?
those poor $GOED newbies — maybe a waffle iron with your tax write-off refund
-no oven for you 1 year
1847 Goedeker Strengthens Board by Appointing Two Highly-Qualified and Independent Directors
October 18 2021 - 08:30AM
Highlights New Directors Selim Bassoul and Alan Shaw Collectively Possess Deep Experience in Durable Goods, Finance, Governance, Growth Initiatives and Supplier Relations
Reaches Cooperation Agreement with Kanen Wealth Management, Which Provided Constructive Input on Latest Stage of Company’s Board Refresh Process
1847 Goedeker Inc. (NYSE American: GOED) ("Goedeker" or the "Company"), one of the largest specialty ecommerce players in the U.S. household appliances market, today announced that it has appointed two highly-qualified and independent individuals – Selim Bassoul and Alan Shaw – to the Company’s Board of Directors (the “Board”), effective immediately.
Today’s appointments, which are an output of Goedeker’s previously announced Board refresh process, reflect feedback and input from an array of stockholders, including Kanen Wealth Management, LLC (together with its affiliates, “Kanen”), with whom the Company has entered into a cooperation agreement (the “Cooperation Agreement”). Nearly half of the Company’s nine-member Board has now been appointed within the past 12 months.
In connection with the new appointments, Paul Froning has agreed to retire from the Board. The Company thanks Mr. Froning for his leadership during what was a transformative period for the business. His retirement is part of the gradual wind-down of Goedeker’s relationship with 1847 Holdings LLC.
Albert Fouerti, Goedeker’s Chief Executive and a Director, commented:
“We are pleased to advance our ongoing Board refresh by appointing Selim and Alan, who have impressive track records working at world-class companies. They have the right perspectives, skillsets and relationships to support our pursuit of pragmatic growth and long-term value. Selim’s stellar background as the chief executive and chairman of The Middleby Corporation will be a great asset to us, particularly as we work to expand our nationwide reach and seize greater market share. Alan, who possesses vast appliances and operational knowledge, will bring equally valuable c-level perspectives and strategic planning knowhow to the Board. After assessing the Company’s needs and engaging with a number of stockholders over the past two months, our Board leadership and Nominating and Governance Committee ran a thorough process to identify individuals who can support our goal of becoming the market leader in home appliances.”
Mr. Froning added:
“Now that the Appliances Connection acquisition is closed and the Company is entering a new phase of its life cycle, it is the right time to add more operational acumen and appliances industry expertise to the Board. I enjoyed working with all my fellow directors on the transaction and integration of the two businesses over the course of the past year. The Company has a bright future.”
David Kanen, Kanen’s Founder and Portfolio Manager, stated:
“We are pleased to have reached an amicable resolution that continues Goedeker’s Board refresh process and adds critical skillsets to the boardroom. We believe a solid foundation exists for the new appointees to work with the Board to execute new strategies as the Company strengthens its appliances industry position and we are hopeful these changes will lead to value creation for all stockholders.”
Pursuant to the Cooperation Agreement, Kanen has agreed to withdraw its director candidate nominations that were previously submitted to the Company and has also agreed to support the Board’s full slate of nominees at Goedeker’s 2021 Annual Meeting of Stockholders. In addition, Kanen has agreed to customary standstill and voting provisions. The complete Cooperation Agreement will be filed on Form 8-K with the U.S. Securities and Exchange Commission.
Selim Bassoul Biography
Mr. Bassoul possesses significant experience in corporate governance, finance, marketing, strategic transactions and other critical business areas. He was the Chief Executive Officer and Chairman at The Middleby Corporation (NASDAQ: MIDD) from January 2001 until his retirement in February 2019. He has served as a Director and the Non-Executive Chairman of the Board of Six Flags Entertainment Corporation (NYSE: SIX) since February 2020 and as the Director and the Non-Executive Chairman of the Board of Diversey Holdings, Ltd., a leading provider of hygiene, infection prevention and cleaning solutions, since February 2020. Mr. Bassoul previously served on the Boards of Directors of several other public and private entities. He holds a B.A. in Business Administration from the American University of Beirut and an MBA in Finance and Marketing from the Kellogg School of Management at Northwestern University.
Alan Shaw Biography
Mr. Shaw brings expansive appliances industry knowledge and valuable supplier relationships to Goedeker’s Board. He has been a leader in the industry for more than 20 years, beginning his career with Whirlpool and finishing it as the Chief Executive Officer of Electrolux’s North American business, a position he held from January 2016 until his retirement in January 2020. He has held President and c-level positions with several North American-based durable goods companies since 2003, including Char-Broil and Husqvarna Group. He holds a B.S. degree in Economics and Political Science from the University of Idaho and an MBA in Marketing from Indiana University.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005474/en/
For Stockholders:
Goedeker Investor Relations
ir@goedekers.com
Or
Morrow Sodali
Mike Verrechia, 800-662-5200
m.verrechia@morrowsodali.com
soap opera news pending
$GOED newbies getting excited
upgrade to an air fryer
hopefully ….just maybe
the Cemita family steps up and provides some $GOED soap opera storyline continuation cauz it ain’t looking so good
https://www.consumerreports.org/appliances/how-to-shop-for-a-large-appliance-now-a9229088944
those poor innocent $GOED newbies - maybe they can wait an extra 3-4 months and get a toaster oven instead using the tax write-off
GOED I've got to focus to get my trading shares replaced before then.
-------
That poster doesn't seem to get it that we all bot in very recently, post offering.
Can't wait!
running out of days
maybe
the Jelly Family steps up and gives $GOED some more soap opera news
only 3 weeks left to the shareholder meeting and quarterly report ….
something needs to happen before the coulda woulda shouldas
those poor $GOED newbies still crushed from that crippling offering
Recent GOED BBB reviews remain dreadful, often due to delivery problems. Read them for yourself ...
https://www.bbb.org/us/mo/saint-charles/profile/major-appliance-dealers/goedekers-0734-110208035/complaints
Seriously? A cancelled a couch order and somehow proves a negative for GOED?
My daughter ordered and received a stove last week and is very happy with it!
Delays from one manufacturer don't reduce demand... if you need something, you need it! Either shift to a different brand, or wait!
Tons of appliance orders are likely being cancelled as ports remain clogged. Similarly, my kids ordered an expensive imported couch from a furniture store two months ago. Delivery is still months off so they cancelled.
maybe
the Tootsie Family steps up and gives $GOED some more soap opera news
otherwise nothing to report since I called them out on the fudge preorder paper order written order short order call to order and all other nonsense orders that just don’t seem to make it to the income statement besides the “cost” of paper and pens to write it
those poor $GOED newbies getting crushed
GOED Indeed!
I have been picky rebuying my trading shares, which I scalped at 3.33
Hope I get another chance to re-scoop.
MG
looks like the Brioche family didn’t step up with $GOED
hopefully the Lobster family can keep the storyline going
$GOED has nothing else going on …need some new soap opera writers this week
I wonder if
the Brioche family owns a lot of shares of $GOED
oh the storyline they could keep running with …
GOED A reminder to our international readers. The language of this forum is English. Posts must be reasonably understandable in this language.
Thank you for your cooperation.
MG
kisar sozay!
it was kisar sozay in skokie illinoy with the barbershop quartet
I think he played the $GOED trombone!
he made $GOED go down
kisar sozay! kisar sozay! kisar sozay!
The Kizer Family Announces Strong Support for the Leadership of 1847 Goedeker, Inc.
October 04 2021
Shannon Kizer, one of the largest landowners in the U.S. and who together with family members holds more than 9 million shares of common stock and more than 12 million warrants to purchase shares of common stock of 1847 Goedeker, Inc. (NYSE American: GOED) (“Goedeker” or the “Company”), today announced his support for the Company’s current leadership, including Chief Executive Officer Albert Fouerti and the Board of Directors (the “Board”):
“Based on our interactions with Goedeker’s leadership, we’re fully confident that the right management team and Board are in place. They have a clear plan for growing the business into a market-leading ecommerce player for home appliances. They also have a sound process in place for adding new experts to the Board, including directors with substantial experience in governance, finance, supplier and vendor relations, and strategic planning. We hope the activist group, which has not shared a plan for creating value, begins to adopt a more constructive posture and long-term outlook. We believe in this Company, and the leadership has our support.”
GOED My avg is 3.66 but when profits booked are counted, my avg is 3.26
GLTA!
...and a relaxing weekend. BeaUtiful fall weather in the Shenandoah Valley of VA
MG
Obviously anyone who bought at the 52 week high was a moron!
Your numbers confirm just what a BARGAIN and ground floor opportunity recent buyers have!
I still own a ton of GOED, am up a lot, and am quite confident buyers at these levels will be well rewarded...
Making money is about potential, not the past!
wowowowowowowowowowowowowowowowowowowowowowowowowowowowowow!!!
GOED
needs to climb 433% just so some of those innocent newbies can just break EVEN!
in case
anyone missed my messages
- this GOED piece of garbage is DOWN 82% from the “cough cough” 52 week high (more like 16 week pump high)
those poor innocent newbies !!!
52 week high $17.75 - curent $3.33 =
holy moley GOED stoley from all those innocent newbies!
that’s a huge % loss and 52 week high is being very generous more like 16 week high
52 week high $17.75 ……. so close
NOT
GOED storyline not juicy enough for taking any home for the weekend
need a new writer - is hans christian anderson still alive?
those poor innocent newbies!!!
not that
GOED has gone up besides from the absolute bottom of the poor innocent newbies torture level
holy moly those innocent investors got smoked!!!!
but I tend to agree with Tyrone
GOED storyline
looks like it may make a sudden change from soap opera to Alfred Hitchcock’s Lifeboat
bring a snorkel !
GOED Yes, that was classy.
I like this new guy.
I think great things are coming.
MG
wow
I didn’t know
the GOED stock record stopped on May 27th then began again
also the stock went into the higher 4s “after” the “offering” so it’s still down considerably from even there
wow wow wow GOED wow
truth hurts
beware of this scam!
$3.50...
The sidelines IS NOT the place to be here!
yeah that’s right!!!!!!
no one is gonna mess with the GOED rent money
cash cow baby making bank!!!!
As the World Turns had a storyline like GOED back in the early 90s. I think production has been shut down on them
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1847 Goedeker Inc.1847 Goedeker Inc. is an industry leading e-commerce destination for appliances, furniture, and home goods. Through its June 2021 acquisition of Appliances Connection, Goedekers created the largest pure-play online retailer of household appliances in the US. With warehouse fulfilment centers in the Northeast and Midwest, as well as showrooms in Brooklyn, New York, and St. Louis, Missouri, Goedekers is a respected nationwide omnichannel retailer that offers one-stop shopping for national and global brands. Goedekers and Appliances Connection carry many household name-brands, including Bosch, Cafe, Frigidaire Pro, Whirlpool, LG, and Samsung, and also carries many major luxury appliance brands such as Miele, Thermador, La Cornue, Dacor, Ilve, Wolf, Jenn-Air, Viking among others and sells furniture, fitness equipment, plumbing fixtures, televisions, outdoor appliances, and patio furniture, as well as commercial appliances for builder and business clients. Learn more at www.Goedekers.com. |
We are offering 91,111,111 units, each unit consisting of one share of our common stock, par value $0.0001 per share, and a warrant to purchase one share of common stock, in connection with our simultaneous acquisition of all of the issued and outstanding capital stock or other equity securities of 1 Stop Electronics Center, Inc., Gold Coast Appliances, Inc., Superior Deals Inc., Joe’s Appliances LLC and YF Logistics LLC (commonly known as Appliances Connection) as described in more detail in this prospectus. The warrants included within the units are exercisable immediately, have an exercise price of $2.25 per share and expire five years from the date of issuance. The shares of common stock and warrants contained in the units are immediately separable and will be issued separately.
Our common stock is listed and traded on NYSE American under the symbol “GOED.” On May 27, 2021, the last reported sale price for our common stock was $6.07 per share. The warrants have been approved for trading on NYSE American under the symbol “GOED WS” and will commence trading on May 28, 2021. In connection with this offering, we have applied for the listing of our common stock and warrants on the New York Stock Exchange, or the NYSE, however, we do not currently meet the minimum share price requirements of the NYSE and will not be able to list our common stock and warrants on the NYSE unless we meet such minimum share price and other listing requirements of the NYSE.
We are an “emerging growth company” as defined in Section 2(a) of the Securities Act of 1933, as amended, and are subject to reduced public company reporting requirements.
Investing in our securities involves risks that are described in the “Risk Factors” section beginning on page 25 of this prospectus.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Per Unit | Total | |||||
Public offering price | $ | 2.2500 | $ | 205,000,000 | ||
Underwriting discounts and commissions(1) | $ | 0.1575 | $ | 14,350,000 | ||
Proceeds, before expenses, to us | $ | 2.0925 | $ | 190,650,000 |
____________
(1) See “Underwriting” beginning on page 124 for additional information regarding underwriting compensation.
We have granted a 30-day option to the underwriters to purchase up to 2,000,000 additional shares of common stock and/or warrants to purchase up to 2,000,000 additional shares of common stock, in any combination thereof, solely to cover over-allotments, if any.
Certain of our existing stockholders and certain of our officers, directors, employees and related persons, have indicated an interest in purchasing an aggregate of approximately 2,779,600 units in this offering at the public offering price. However, because indications of interest are not binding agreements or commitments to purchase, the underwriters may determine to sell more, fewer or no units in this offering to these persons, and any of these persons may determine to purchase more, fewer or no units in this offering. The underwriters will receive the same underwriting discount on any units purchased by these persons as they will on any other units sold to the public in this offering.
The units will be ready for delivery on or about June 2, 2021.
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