1847 Holdings LLC (LBRA): M&A transaction — 1847 Holdings eliminates $4.2M debt via foreclosure sale of ICU Eyewear assets

1847 Holdings LLC

Lender private sale of ICU Eyewear assets to ICU Eyecare Solutions for $4.25M cash on August 5, 2024.
1847 Holdings entered a 5-year non-compete agreement covering eyewear products and accessories.
Approximately $4.2M of debt removed from the company's balance sheet as a result of the sale.
CEO Ellery Roberts says divestiture strengthens financial position and enables focus on core operations.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

1847 Holdings LLC completed a disposition involving ICU Eyecare Solutions Inc. (ICU Solutions) for FOUR MILLION TWO HUNDRED AND FIFTY THOUSAND AND NO/100 DOLLARS ($4,250,000.00) (closed 2024-08-05).

Action: disposition
Counterparty: ICU Eyecare Solutions Inc. (ICU Solutions)
Consideration: FOUR MILLION TWO HUNDRED AND FIFTY THOUSAND AND NO/100 DOLLARS ($4,250,000.00)
Closing: 2024-08-05

Exact text from the filing

On August 5, 2024, ICU Eyecare Solutions Inc. (ICU Solutions), an entity that is not affiliated with the Company, was the successful bidder of the Asset Sale with a cash bid of FOUR MILLION TWO HUNDRED AND FIFTY THOUSAND AND NO/100 DOLLARS ($4,250,000.00) (the “Purchase Price”).

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Source: SEC EDGAR

accession 0001213900-24-067129

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