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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
I like this part:
"Out of respect for your firm and you, the Company will not make your associate’s exchanges public"
Hear, hear!!
Now Kanen, STHU!
LMAO!
Additional Proxy Soliciting Materials (definitive) (defa14a)
September 23 2021
On September 23, 2021, 1847 Goedeker Inc. sent the following letter to J. Carlo Cannell:
September 23, 2021
Mr. Cannell,
The leadership of 1847 Goedeker Inc. (“Goedeker” or the “Company”) is in receipt of your letter dated September 23, 2021.
You are likely aware that Goedeker has made a good faith proposal to invite Kanen Wealth Management (“Kanen”) into our ongoing director refresh process. You are also likely aware that we were in the process of proactively interviewing one of Kanen’s director candidates before Kanen publicly nominated five individuals for election to the Company’s nine-member Board. The suggestion that we have not tried to engage with Kanen and resolve Kanen’s campaign is false, and troubling to me as a devoted executive, director and sizable stockholder.
In an effort to ensure Goedeker’s stockholders do not draw the wrong conclusions, I feel compelled to highlight the below points that were omitted from what I consider to be your misleading public letter. As a long-term investor spending all of his energy and time trying to build a lasting foundation for growth, I am concerned by your firm’s ongoing efforts to gain outsized access to management throughout the quarter and glean an information advantage over your fellow stockholders.
· Goedeker’s leadership spent more than an hour-and-a-half on the phone with your firm just last month following the Company’s second quarter earnings call. This followed a string of prior interactions. This context was omitted from your letter.
· When your firm requested another call with multiple members of the management team this month, your Research Associate, Oleg Karmanov, shared a lengthy list of business, financial and operational questions in writing. We would not feel comfortable addressing some of these questions during the middle of a quarter and certainly not in a siloed manner that would not provide all stockholders the benefit of fair disclosure. This context about your firm’s agenda for another, mid-quarter business update call was omitted from your letter.
· In order to avoid creating an unfair two-tier system for investor relations and to ensure management can focus on value creation during this pivotal post-combination period, I feel providing your firm at least eight extended interactions per year with leadership is sufficient and strong. This includes a lengthy one-to-one call each quarter following our broader earnings call, which includes a Q&A your firm can participate in. Our representative made you aware of these considerations. This context was omitted from your letter.
· To demonstrate our respect for your status as a meaningful stockholder, our representative informed you that we plan to proactively reach out to schedule your post-earnings Q3 call to go over business, financial and operational items. This context was omitted from your letter.
· In addition, our representative asked that you make us aware if there were other issues you wanted to discuss, beyond business, financial and operational items that may not be appropriate to discuss one-to-one with you. This context was omitted from your letter.
Out of respect for your firm and you, the Company will not make your associate’s exchanges public.
If you would like to schedule a call with leadership or send us a constructive, private note about your specific input into our ongoing director refresh, we would be happy to receive that feedback. Any suggestions you have for director candidates with appliances, ecommerce and relevant capital markets experience are also welcomed. But your firm has made no such private overtures to date, as far as I am aware.
While you and Kanen may find it beneficial in the short-term to grandstand and engage in public hostilities, I am confident that a majority of my fellow stockholders will look unfavorably upon efforts to distract the Company’s leadership from the pursuit of sustainable, profitable growth and long-term value. I believe Goedeker’s stockholders recognize that it has been roughly three months since closing the Appliances Connection transaction and one month since our management transition. I suspect that stockholders focused on long-term value will deem it appropriate to provide a new chief executive officer a runway to replicate prior success and surround himself with a qualified team.
Regards,
Albert Fouerti
I mean people who WISELY bought in after the cash was raised!
Is this confusing?
you mean the
GOED longs from Jan 1 - May 27th of just this year are now somehow happy?
or just the last week to this week trader (never hold longer than your breath) “longs”?
I wonder if the GOED story line gonna
have Brantley Foster and Christy Willis make a play on the GOED board
Man, making all this money really sucks!
Congrats to longs!
storyline getting better!
I think GOED must have added some General Hospital writers, too!
is Cyrus trying to take out Sonny? like GOED plot
hopefully they don’t make it a cliffhanger episode here
biting my nails oh my
Yes, those poor newbies... making money and all...
that’s a smart move
this way GOED will provide no interference to the massive rent invoices that will be paid which just so happens to be within arms length reach of the company’s executives who are involved with the ownership of the buildings that maintains leases to this public entity
cut those checks on the 1st of the month (you don’t want a “late” fee)
oh the poor GOED newbies
Yes, nice day...
I think GOED is an EXCELLENT risk/reward at these prices!
GOED Nice day!
I'm hearing Kanen doesn't add anything. That they are just seeing the nice potential we are seeing and want to grab it.
Their slate has no experience in the appliance biz.
I say ignore them, vote for current management and board.
MG
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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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