1847 Holdings LLC (LBRA): debt financing — 1847 Holdings raises $500K via 20% OID note, 92,937 warrants at $2.69

1847 Holdings LLC

Principal amount $625K with 20% OID; net proceeds $500K.
Note due Aug 8, 2024; convertible on default at 90% of 5-day VWAP, floor $0.01.
Warrants exercisable after 6 months at $2.69 for 5 years; cashless exercise option.
Registration rights: file by May 31, 2024; effective within 90 days; 1%/mo penalty up to 10%.
Spartan Capital as placement agent receives 8% warrant at $2.959 exercise price.

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 $625,000 with an accredited investor at 20% OID maturing August 8, 2024.

Instrument: loan
Principal: $625,000
Counterparty: an accredited investor
Rate: 20% OID
Maturity: August 8, 2024
Event: incurrence

Exact text from the filing

issued and sold to the Investor a 20% OID subordinated promissory note in the principal amount of $625,000

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

1847 Holdings LLC entered into Registration Rights Agreement with the Investor (effective 2024-05-08).

Action: entry
Agreement: equity purchase
Counterparty: the Investor
Effective: 2024-05-08

Exact text from the filing

In connection with the Private Placement, the Company also entered into a registration rights agreement with the Investor (the “ Registration Rights Agreement ”), pursuant to which the Company agreed to file a registration statement to register all common shares underlying the Note and the Warrant under the Securities Act of 1933, as amended, by May 31, 2024 and use its best efforts to cause such registration statement to be declared effective within ninety (90) days after the filing thereof.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

1847 Holdings LLC entered into Purchase Agreement with an accredited investor valued at $500,000 (effective 2024-05-08).

Action: entry
Agreement: equity purchase
Counterparty: an accredited investor
Value: $500,000
Effective: 2024-05-08

Exact text from the filing

On May 8, 2024, 1847 Holdings LLC (the “ Company ”) entered into a securities purchase agreement (the “ Purchase Agreement ”) with an accredited investor (the “ Investor ”), pursuant to which the Company issued and sold to the Investor a 20% OID subordinated promissory note in the principal amount of $625,000 (the “ Note ”) and a warrant for the purchase of 92,937 common shares (the “ Warrant ”) for a total purchase price of $500,000 in a private placement transaction (the “ Private Placement ”).

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311 debt financings filed in the last 30 days. Browse all debt financings →

1847 Holdings LLC filing history →

Source: SEC EDGAR

accession 0001213900-24-043027

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