1847 Goedeker Inc. Announces Proposed Public Offering of Common Stock
May 03 2021 - 9:15AM
Business Wire
1847 Goedeker Inc. (NYSE American: GOED) (“Goedekers”), a
one-stop e-commerce destination for appliances and furniture,
announced today that it intends to offer for sale $205,000,000 of
its common stock, par value $0.0001 per share (“Common Stock”), in
an underwritten public offering. In addition, Goedekers expects to
grant the underwriters a 30-day option to purchase an additional
$30,750,000 of Common Stock. The offering is subject to market
conditions and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
BofA Securities and ThinkEquity, a division of Fordham Financial
Management, Inc., are acting as joint-bookrunners for the
offering.
Goedekers intends to use the net proceeds from the offering to
pay part of the cash portion of the purchase price for the proposed
acquisition of Appliances Connection and related acquisition fees
and expenses.
A registration statement on Form S-1 (Registration No.
333-255709) (the “Registration Statement”) relating to these
securities has been filed with the Securities and Exchange
Commission (“SEC”), but has not yet become effective. The
securities may not be sold nor may offers to buy be accepted prior
to the time that the Registration Statement becomes effective. The
offering is being made pursuant to the Registration Statement and
an accompanying prospectus. Prospective investors should read the
Registration Statement and accompanying prospectus, and the other
documents that Goedekers has filed with the SEC for more complete
information about Goedekers and the offering. A copy of the
preliminary prospectus relating to these securities may be
obtained, when available, from BofA Securities, Inc.,
NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte NC
28255-0001, Attn: Prospectus Department, or by emailing:
dg.prospectus_requests@bofa.com. Electronic copies of the
Registration Statement and the accompanying prospectus are also
available free of charge on the website of the SEC at
www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction.
About 1847 Goedeker Inc.
1847 Goedeker Inc. is an industry leading e-commerce destination
for appliances, furniture, and home goods. Since its founding in
1951, Goedekers has transformed from a local brick and mortar
operation serving the St. Louis metro area to a respected
nationwide omnichannel retailer that offers one-stop shopping for
national and global brands. While Goedekers maintains its St. Louis
showroom, over 95% of sales are placed through its website
(www.goedekers.com). Goedekers
provides visitors an easy to navigate shopping experience and
offers more than 141,000 items organized by category and product
features. Learn more at www.goedekers.com.
Forward-Looking Statements
Certain statements made in this press release may be considered
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 including, but not limited
to, statements regarding the proposed offering. Forward-looking
statements are inherently subject to risks, uncertainties and
assumptions. Generally, statements that are not historical facts,
including statements concerning possible or assumed future actions,
business strategies, events or results of operations, are
forward-looking statements. These statements may be preceded by,
followed by or include the words “believes,” “estimates,”
“expects,” “projects,” “forecasts,” “may,” “will,” “should,”
“seeks,” “plans,” “scheduled,” “anticipates,” “predicts” or
“intends” or similar expressions. Such forward-looking statements
involve risks and uncertainties that may cause actual events,
results or performance to differ materially from those indicated by
such statements. Certain of these risks are identified and
discussed under “Risk Factors” in the Registration Statement and in
Goedekers’ other SEC filings made from time to time. These risk
factors are important to consider in determining future results and
should be reviewed in their entirety. Forward-looking statements
are based on the current belief of Goedekers’ management, based on
currently available information, as to the outcome and timing of
future events, and involve factors, risks, and uncertainties that
may cause actual results in future periods to differ materially
from such statements. However, there can be no assurance that the
events, results or trends identified in these forward-looking
statements will occur or be achieved. Forward-looking statements
speak only as of the date they are made, and Goedekers is not under
any obligation, and expressly disclaims any obligation, to update,
alter or otherwise revise any forward-looking statement, whether as
a result of new information, future events or otherwise, except as
required by law. Readers should carefully review the statements set
forth in the reports that Goedekers has filed or will file from
time to time with the SEC.
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Dave Gentry, CEO RedChip Companies Office: 1.800.RED.CHIP
(733.2447) Cell: 407.491.4498 dave@redchip.com
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