secwatch.observer — SEC 8-K summary
======================================

Issuer:     1847 Holdings LLC (LBRA)
CIK:        0001599407
Form:       8-K
Filed at:   2023-02-13T23:59:59+00:00
Accession:  0001213900-23-010499
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1847 Holdings closes acquisition of ICU Eyewear for $4M cash plus $500K notes
-----------------------------------------------------------------------------

- Merger completed Feb 9, 2023; consideration: $4M cash (net of debt/expenses) and $500K in 6% subordinated promissory notes due Feb 2024.
- Entered $5M revolving loan with GemCap; initial $2.06M advance used to repay ICU debt and fees; interest at Prime+8% or 15% floor.
- Issued $2.56M in 12% notes and warrants to two accredited investors; net proceeds of $2.3M used for purchase price; monthly payments start May 2023.
- Management services agreement with 1847 Partners LLC: quarterly fee of greater of $75K or 2% of adjusted net assets, subject to caps.
- Financial statements of ICU Eyewear to be filed by amendment within 71 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1599407/000121390023010499/0001213900-23-010499-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1599407/000121390023010499/ea173299-8k_1847hold.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-010499

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer