NEW YORK, NY / ACCESSWIRE / October 3, 2023 / 1847 Holdings LLC ("1847" or the "Company") (NYSE American:EFSH), a unique holding company that combines the attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced that on October 2, 2023, the Company received written notice from the NYSE American LLC stating that the Company has regained compliance with the continued listing standards set forth in Part 10 of the NYSE American Company Guide.
Mr. Ellery W. Roberts, CEO of 1847, commented, "We are pleased to have regained compliance with the NYSE American's continued listing standards, and remain focused on the continued execution of our strategic plan. We remain on track to achieve $90 million in sales in 2023, and our cash flow continues to improve, which should allow us to resume dividends and opportunistically repurchase stock in the future, subject to establishing a stock buyback plan and future market conditions. Overall, we have built a highly scalable business model, and maintaining our listing will support our strategy to acquire additional accretive, cashflow positive companies at attractive multiples in order to maximize returns for our shareholders."
The below compliance (".BC") indicator will no longer be disseminated beginning at the opening of trading on October 3, 2023, and the Company will be removed from the list of NYSE American noncompliant issuers on the Exchange's website.
About 1847 Holdings LLC
1847 Holdings LLC (NYSE American:EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and former Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders. For more information, visit www.1847holdings.com.
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This press release may contain information about 1847 Holdings' view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management's beliefs, assumptions, and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in "Risk Factors" included in our SEC filings.
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SOURCE: 1847 Holdings LLC
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