1847 Holdings LLC (LBRA): debt financing — 1847 Holdings raises $790K via 12% note with Mast Hill Fund; warrants issued

1847 Holdings LLC

Issued $878,000 promissory note (net $790,200 after OID) to Mast Hill Fund, L.P., bearing 12% interest, maturing Feb 22, 2024.
Monthly payments of ~$87,800 plus accrued interest begin May 22, 2023; prepayment allowed with $750 fee.
Issued five-year warrants: 182,917 shares at $4.20 and 198,343 shares at $0.01 per share.
Note convertible upon default at lower of $4.20 or 80% of 5-day VWAP (floor $0.03); warrants have price-based anti-dilution adjustments.
Company must hold shareholder meeting within 90 days to approve issuance; max 930,661 shares (19.99% of outstanding) issuable before approval.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

1847 Holdings LLC incurred loan of $878,000 with Mast Hill Fund, L.P. at 12% per annum maturing February 22, 2024.

Instrument: loan
Principal: $878,000
Counterparty: Mast Hill Fund, L.P.
Rate: 12% per annum
Maturity: February 22, 2024
Event: incurrence

Exact text from the filing

On February 22, 2023, 1847 Holdings LLC (the “ Company ”) entered into a securities purchase agreement (the “ Purchase Agreement ”) with Mast Hill Fund, L.P. (the “ Purchaser ”), pursuant to which the Company issued to the Purchaser (i) a promissory note in the principal amount of $878,000, which includes an original issue discount in the amount of $87,800 (the “ Note ”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

1847 Holdings LLC entered into Purchase Agreement with Mast Hill Fund, L.P. valued at $878,000 (effective 2023-02-22).

Action: entry
Agreement: equity purchase
Counterparty: Mast Hill Fund, L.P.
Value: $878,000
Effective: 2023-02-22

Exact text from the filing

On February 22, 2023, 1847 Holdings LLC (the “ Company ”) entered into a securities purchase agreement (the “ Purchase Agreement ”) with Mast Hill Fund, L.P. (the “ Purchaser ”), pursuant to which the Company issued to the Purchaser (i) a promissory note in the principal amount of $878,000, which includes an original issue discount in the amount of $87,800 (the “ Note ”), (ii) a five-year warrant for the purchase of 182,917 common shares of the Company at an exercise price of $4.20 per share (subject to adjustment), which may be exercised on a cashless basis if the market price of the common shares is greater than the exercise price (the “ Base Warrant ”), and (iii) a five-year warrant for the purchase of 198,343 common shares of the Company at an exercise price of $0.01 per share (subject to adjustment), which may be exercised on a cashless basis if the market price of the common shares is greater than the exercise price (the “ Penny Warrant ,” and together with the Base Warrant, the

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1847 Holdings LLC filing history →

Source: SEC EDGAR

accession 0001213900-23-015036

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