![]() The Company also announced the closing of a $70 million senior secured credit facility with a leading regional commercial bank, consisting of a simultaneous $60 million term loan used to partially fund the cash portion of the purchase price for the acquisition of Appliances Connection and a $10 million revolving loan for future working capital needs. The completion of the Appliances Connection acquisition accelerates Goedekers’ long-term vision of building a billion-dollar enterprise that changes the way Americans shop for appliances. The Company utilized the net proceeds from this offering to fund a portion of the purchase price for the acquisition of Appliances Connection and plans to use the remaining net proceeds for working capital and general corporate purposes. The Company has granted the underwriters a 30-day option to purchase up to 2,000,000 additional shares of common stock to cover over-allotments, if any. The warrants began trading on the NYSE American on under the ticker symbol “GOED WS”. 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 issuance. ![]() This includes the exercise by the underwriters of their over-allotment option to purchase up to an additional 2,000,000 warrants. The gross proceeds to the Company from the offering were approximately $205 million before deducting underwriting discounts, commissions and other offering expenses. Each unit was sold to the public at a price of $2.25. ![]() The underwritten public offering comprised 91,111,111 units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock. (NYSE American: GOED, GOED WS) (“Goedekers” or the “Company”), a one-stop e-commerce destination for appliances and furniture, today announced the closing of its $205 million underwritten public offering, $70 million debt financing and simultaneous closing of its acquisition of Appliances Connection, creating the largest pure-play online retailer of household appliances in the US. BALLWIN, Mo.-( BUSINESS WIRE)- 1847 Goedeker Inc. ![]()
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