1847 Goedeker (GOED) IPO Opens 4% Higher

Today's IPO for 1847 Goedeker Inc. (NYSE: GOED) opened for trading at $9.40 after pricing of its initial public offering of 1,111,200 shares of its common stock at a public offering price of $9 per share, for gross proceeds of $10,000,800, before deducting underwriting discounts and offering expenses.

In addition, 1847 Goedeker Inc. has granted the underwriters a 45-day option to purchase up to an additional 166,577 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount. All of the shares of common stock are being offered by 1847 Goedeker Inc.

The Company intends to use the proceeds to pay off outstanding debt and obligations, and for working capital and general corporate purposes.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering. Aegis Capital Corp. and Spartan Capital Securities, LLC are acting as co-managers for the offering.

1847 Goedeker (Goedeker’s) is a one-stop e-commerce destination for appliances, furniture, home goods, and related products. Since its founding in 1951, Goedeker’s has evolved from a local brick and mortar operation serving the St. Louis metro area to a large nationwide omnichannel retailer that offers one-stop shopping for national and global brands. While the Company maintains its St. Louis showroom, over 90% of sales are placed through its website (www.goedekers.com). Goedeker’s provides visitors an easy to navigate shopping experience and offers more than 227,000 SKUs organized by category and product features. Specialization in the home category has enabled the Company to build a shopping experience and technologically advanced logistics infrastructure that is tailored to the unique characteristics of the market.

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