1847 Goedeker announces the price of a public offering of 205 million dollars


BALLWIN, Mo – (BUSINESS WIRE) –1847 Goedeker Inc. (American NYSE: GOED) (American NYSE: GOED WS) (“Goedekers” or the “Company”), a one-stop e-commerce destination for home appliances and furniture, today announced the price of a subscribed public offering of 91,111,111 units, each unit consisting of one common share and a warrant to buy an ordinary share. Each unit is sold to the public for $ 2.25. The gross proceeds of the offering to the Company are expected to be approximately $ 205 million before the deduction of subscription discounts, commissions and other offering costs. The warrants included in the units are exercisable immediately, have an exercise price of $ 2.25 per share and expire five years from the date of issue. The common shares and the warrants contained in the units are immediately separable and will be issued separately.

The warrants will begin trading on the NYSE American on May 28, 2021 under the ticker symbol “GOED WS”.

The Company has granted the subscriber a 30 day option to purchase up to 2,000,000 additional common shares and / or up to 2,000,000 additional warrants, if any.

The offer is expected to close on June 2, 2021, subject to compliance with customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., acts as the sole accounting manager of the offering.

The Company intends to use the net proceeds of this offering to pay a portion of the cash portion of the purchase price for the proposed acquisition of Appliances Connection and related acquisition costs and expenses. Any remaining proceeds will be used for working capital and general corporate purposes.

A registration statement on Form S-1, as amended (File No. 333-255709) relating to the shares has been filed with the Securities and Exchange Commission (“SEC”) and became effective on May 27, 2021. This offer is being made only by means of a prospectus. Copies of the final prospectus, when available, can be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436 -3673, by email to [email protected] The final prospectus will be filed with the SEC and will be available on the SEC’s website located at: http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal. before registration or qualification. under the securities laws of those states or jurisdictions.

About 1847 Goedeker Inc.

1847 Goedeker Inc. is a leading e-commerce destination for appliances, furniture and housewares. Since its founding in 1951, Goedekers has grown from a local physical operation serving the Saint-Louis metropolitan area to a nationally respected omnichannel retailer that provides one-stop shopping for national and global brands. While the company maintains its Saint-Louis showroom, more than 95% of sales are made through its website (www.Goedekers.com). Goedeker’s offers visitors an easy-to-navigate shopping experience and offers over 141,000 items organized by category and product characteristics. Learn more about www.Goedekers.com.

Forward-looking statements

This press release contains “forward-looking statements” subject to important risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate”, “believe”, “consider”, “might”, “estimate”, “expect”, “have the intention “,” seek, “” May “,” could “,” plan “,” potential “,” predict “,” plan “,” target “,” aim “,” should “,” want “” want “or negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions which are difficult to predict. In addition, certain forward-looking statements are based on assumptions about future events which may not prove to be correct. These and other risks and uncertainties are described in more detail in the section entitled “Factors”. of risk ”of the final prospectus relating to the fre public filed with the Securities and Exchange Commission and other reports filed with the Securities and Exchange Commission thereafter uh. The forward-looking statements contained in this announcement are made as of this date, and the Company assumes no obligation to update such information, except as required by applicable law.


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