other material
confidence high
sentiment negative
materiality 0.75
1847 Holdings exchanges remaining warrants and shares for new Series F convertible preferred at $0.1549/share conversion
1847 Holdings LLC
- Exchanged 439,642 remaining Series A warrants and 386,696 exercised common shares for 1,027 Series F convertible preferred shares.
- Series F preferred has $1,000 stated value, convertible into common at $0.1549/share (vs $0.81 warrant exercise price).
- Conversion limited to 5,385,291 common shares (19.99% of pre-exchange outstanding) until shareholder approval.
- Preferred ranks senior to common, no voting rights except protective provisions on amendments or senior issuances.