1847 Holdings LLC announced a private placement of 20% convertible subordinated promissory notes for the gross proceeds of $3.125 million and warrants for the gross proceeds of $2.5 million for the total gross proceeds of $5.625 on August 11, 2023. The notes will be convertible into common shares at the option of the holders at any time at a conversion price which shall not be less than $0.03. The Notes are due and payable on February 11, 2024.

The warrants will be exercisable for a period five (5) years at an exercise price of $0.1830 into an aggregate of 4,098,361 common shares. The transaction is subjected to shareholder's approval.