8-K
filed September 7, 2023, 7:59 PM ET
ticker LBRA
CIK 0001599407
debt
confidence high
sentiment negative
materiality 0.65
1847 Holdings extends defaulted promissory notes maturity to Aug 2024, pays 10% amendment fee
1847 Holdings LLC
- Extended maturity of three notes from Mast Hill and Leonite to Aug 31, 2024; monthly amortization payments begin Sep 30, 2023.
- Amendment fee of 10% of remaining principal paid within 1 business day (e.g., $21,932 on Mast Hill Feb 9 note).
- Holders agree not to convert notes as long as company makes monthly payments; previous defaults waived for 60 days.
- Mast Hill Feb 3 and Leonite Feb 3 notes fully converted and terminated; remaining balances restructured.
Key facts
Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
1847 Holdings LLC amended Amendments to Mast Hill February 9 Note, Leonite February 9 Note and Mast Hill February 22 Note with Mast Hill Fund, L.P. and Leonite Fund I, LP valued at Extended maturity date to August 31, 2024; monthly payments starting Sept 30, 2023; amendment fee of (effective 2023-08-31).
- Action
- amendment
- Agreement
- notes offering
- Counterparty
- Mast Hill Fund, L.P. and Leonite Fund I, LP
- Value
- Extended maturity date to August 31, 2024; monthly payments starting Sept 30, 2023; amendment fee of
- Effective
- 2023-08-31
Exact text from the filing
On August 31, 2023, the Company, Mast Hill and Leonite entered into amendments to the Mast Hill February 9 Note, the Leonite February 9 Note and the Mast Hill February 22 Note (the “ Amendments ”), pursuant to which the parties agreed to extend the maturity date of the remaining Notes to August 31, 2024 and the Company agreed to make monthly payments commencing on September 30, 2023
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
1847 Holdings LLC entered into Leonite February 3 Note with Leonite Fund I, LP valued at $500,000 principal amount promissory note (effective 2023-02-03).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Leonite Fund I, LP
- Value
- $500,000 principal amount promissory note
- Effective
- 2023-02-03
Exact text from the filing
Leonite Fund I, LP (“ Leonite ”) a promissory note in the principal amount of $500,000 (the “ Leonite February 3 Note ”)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
1847 Holdings LLC entered into Mast Hill February 9 Note with Mast Hill Fund, L.P. valued at $1,390,909 principal amount promissory note (effective 2023-02-09).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Mast Hill Fund, L.P.
- Value
- $1,390,909 principal amount promissory note
- Effective
- 2023-02-09
Exact text from the filing
on February 9, 2023, the Company issued a promissory note in the principal amount of $1,390,909 to Mast Hill (the “ Mast Hill February 9 Note ”)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
1847 Holdings LLC entered into Mast Hill February 3 Note with Mast Hill Fund, L.P. valued at $104,000 principal amount promissory note (effective 2023-02-03).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Mast Hill Fund, L.P.
- Value
- $104,000 principal amount promissory note
- Effective
- 2023-02-03
Exact text from the filing
on February 3, 2023, 1847 Holdings LLC (the “ Company ”) issued to Mast Hill Fund, L.P. (“ Mast Hill ”) a promissory note in the principal amount of $104,000 (the “ Mast Hill February 3 Note ”)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
1847 Holdings LLC entered into Leonite February 9 Note with Leonite Fund I, LP valued at $1,166,667 principal amount promissory note (effective 2023-02-09).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Leonite Fund I, LP
- Value
- $1,166,667 principal amount promissory note
- Effective
- 2023-02-09
Exact text from the filing
n the principal amount of $104,000 (the “ Mast Hill February 3 Note ”) and issued to Leonite Fund I, LP (“ Leonite ”) a promissory note in the principal amount of $500,000 (the “ Leonite February 3 Note ”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
1847 Holdings LLC terminated Leonite February 3 Note with Leonite Fund I, LP valued at Terminated due to conversion after Event of Default (effective 2023-08-31).
- Action
- termination
- Agreement
- notes offering
- Counterparty
- Leonite Fund I, LP
- Value
- Terminated due to conversion after Event of Default
- Effective
- 2023-08-31
Exact text from the filing
Mast Hill converted the Mast Hill February 3 Note and Leonite converted the February 3 Note. Accordingly, the Mast Hill February 3 Note and Leonite February 3 Note have been terminated.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
1847 Holdings LLC terminated Mast Hill February 3 Note with Mast Hill Fund, L.P. valued at Terminated due to conversion after Event of Default (effective 2023-08-31).
- Action
- termination
- Agreement
- notes offering
- Counterparty
- Mast Hill Fund, L.P.
- Value
- Terminated due to conversion after Event of Default
- Effective
- 2023-08-31
Exact text from the filing
Mast Hill converted the Mast Hill February 3 Note and Leonite converted the February 3 Note. Accordingly, the Mast Hill February 3 Note and Leonite February 3 Note have been terminated.
View on SEC.gov
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