1847 Holdings Announces Special Share Dividend of 1847 Goedeker Stock
Press Release | 09/01/2020
NEW YORK, Sept. 01, 2020 (GLOBE NEWSWIRE) -- 1847 Holdings LLC (OTCQB: EFSH) (the “Company”), a publicly traded acquisition holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced its proposed special dividend of 3.325 million shares of 1847 Goedeker (NYSE American: GOED) common stock to the Company’s shareholders.
“The IPO of Goedeker’s is a major milestone for 1847 Holdings and demonstrates our ability to generate returns for our shareholders through realized capital appreciation of our operating subsidiaries,” commented Ellery W. Roberts, CEO of 1847 Holdings.
The record date for the dividend and the distribution date have not yet been set. 1847 Holdings intends to distribute all of the 3.325 million shares of 1847 Goedeker that it owns to the holders of its common shares and allocation shares. The common shareholders will receive 2,660,000 of these shares and 1847 Partners, LLC, the manager of 1847 Holdings, as the holder of all of the allocation shares, will receive the remaining 665,000 of these shares. We expect that as of the record date, once it is set, 1847 Holdings will have 3,616,513 common shares and 1,000 allocation shares issued and outstanding. If so, then holders of 1847 Holdings’ common shares at the close of business on the record date will receive shares of the company's common stock at a ratio of 0.735515121886746 shares of 1847 Goedeker common stock for each common share of 1847 Holdings that they hold on the record date.
