OTC-Listed 1847 Holdings Signs LOI for Contractor with $29M Backlog, Signaling Massive Expansion
LBRA has more than doubled off its 52-week low of $0.001.
Summary
1847 Holdings (LBRA) has signed a Letter of Intent (LOI) to acquire a 40-year-old construction contractor that boasts a $29 million backlog. This potential acquisition is highly significant for 1847 Holdings, given its current market capitalization is less than $300,000. The target company's backlog alone is over 100 times LBRA's market cap, indicating a potentially transformative increase in the company's operational scale and revenue potential. Traders will be closely watching for the execution of a definitive agreement and details regarding the financing structure of this acquisition, as it could fundamentally re-rate the company.
At the time of this announcement, LBRA was trading at $0.01 on OTC in the Real Estate & Construction sector, with a market capitalization of approximately $279.2K. The 52-week trading range was $0.00 to $0.03. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.