secwatch.observer — SEC 8-K summary
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Issuer:     1847 Holdings LLC (LBRA)
CIK:        0001599407
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001213900-23-066455
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1847 Holdings raises $2.5M via 20% OID subordinated notes and warrants
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- Issued $3.125M principal 20% OID subordinated promissory notes due Feb 11, 2024; net proceeds $2.5M.
- Warrants to purchase 4,098,361 common shares at $0.1830 per share, 5-year term; subject to shareholder approval.
- Notes convertible upon event of default at 90% of 5-day VWAP (floor $0.03); conversion also requires shareholder approval.
- Company must hold special shareholder meeting within 60 days to approve issuance of shares underlying notes and warrants.
- Placement agent Spartan Capital receives 6% cash fee plus 8% warrant coverage at $0.2013 exercise price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1599407/000121390023066455/0001213900-23-066455-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1599407/000121390023066455/ea183425-8k_1847hold.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-066455

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