1847 Holdings subsidiary refinances with up to $15M revolver; parent provides limited guaranty

1847 Holdings LLC

New lender Mountain Ridge Capital provides $15M revolving credit facility, maturing Sept 2026, replacing prior $5M facility.
Initial advance of $4.22M used to pay off existing debt, fees, and working capital.
Parent 1847 Holdings grants limited guaranty on certain Target Corp inventory, payable in cash or shares at $4.575/share floor.
Interest rate: Term SOFR + 8% (or Base Rate + 7%); prepayment penalties range 1%-3%.

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 entered into Amended and Restated Credit and Security Agreement with AB Lending SPV I LLC d/b/a Mountain Ridge Capital valued at up to $15,000,000 (effective 2023-09-11).

Action: entry
Agreement: credit facility
Counterparty: AB Lending SPV I LLC d/b/a Mountain Ridge Capital
Value: up to $15,000,000
Effective: 2023-09-11

Exact text from the filing

On the same date, the Borrower entered into an Amended and Restated Credit and Security Agreement (the “ Credit and Security Agreement ”) with the New Lender for a revolving loan of up to $15,000,000

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

1847 Holdings LLC entered into Limited Guaranty with AB Lending SPV I LLC d/b/a Mountain Ridge Capital (effective 2023-09-11).

Action: entry
Counterparty: AB Lending SPV I LLC d/b/a Mountain Ridge Capital
Effective: 2023-09-11

Exact text from the filing

To induce the New Lender to enter into the Credit and Security Agreement, the Company agreed to provide a limited guaranty to the New Lender (the “ Limited Guaranty ”)

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1847 Holdings LLC filing history →

Source: SEC EDGAR

accession 0001213900-23-076706

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