Stock Alert: 1847 Holdings Gains Three Fold

(RTTNews) - Shares of nano-cap company 1847 Holdings LLC (EFSH) soared over 200% on Wednesday morning after the company announced agreed to buy multi-state retail hydroponic and garden supply operation for $100 million.

EFSH is currently trading at $3.80, up $2.54 or 201.59%, on the Nasdaq.

1847 Holdings, said its its wholly-owned subsidiary, 1847 Hydroponic Inc., has entered into a securities purchase agreement relating to the acquisition of multiple entities that operate retail hydroponic and garden supply stores for a purchase price of $100 million consisting of $90 million in cash and $10 million in the form of a three-year buyer note.

The acquisition is expected to close during the second quarter of 2021.

The Hydroponic Business generated $25.3 million and $18.6 million in revenue during the fiscal years ended December 31, 2019 and 2018, respectively.