Trading of the Company's Common Shares to Remain Suspended
NEW YORK CITY, NY / ACCESS Newswire / April 16, 2025 / 1847 Holdings LLC (OTC PINK:EFSH) ("1847 Holdings" or the "Company") today provided an update on its request for a review of the delisting determination issued by the NYSE American.
As previously disclosed, on April 3, 2025, the NYSE American Regulation Staff notified 1847 Holdings LLC (the "Company") that it had determined to commence proceedings to delist the Company's common shares and to suspend trading of those shares as of that date. On April 9th, the Company submitted a request to the NYSE American ("NYSEA") for an oral hearing to review that determination (the "Staff Determination"). The hearing will be held before an NYSEA Listing Qualifications Panel (the "Panel"). According to the NYSE American Company Guide, the hearing is to be scheduled on a date to be determined by the NYSEA Office of General Counsel, to the extent practicable, within 45 days of the date on which the Company filed its request for a hearing with the NYSEA. A schedule setting deadlines for submission of briefs and other materials by the parties will be issued in advance of the hearing. The Company may make a presentation at the hearing in support of its challenge to the Staff Determination. After the hearing, the Panel is supposed to issue a written decision describing the specific grounds for its determination, including, if applicable, the basis for its determination that the securities of the issuer, here, the Company, should continue to be listed as permitted by Section 1009 of the NYSE American Company Guide or that the Staff Determination was in error. The decision is also supposed to notify the Company that it may request review of the Panel's decision within 15 calendar days of the date thereof. Upon its issuance, the Panel's decision is to be provided promptly to the Company and effective immediately, subject to some exceptions.
In the meantime, trading of the Company's common shares remains suspended pending the outcome of the review.
About 1847 Holdings
1847 Holdings LLC, a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and 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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Forward Looking Statements
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.
Contact:
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Tel: +1 (212) 671-1020
Email: EFSH@crescendo-ir.com
SOURCE: 1847 Holdings LLC
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