1347 Investors LLC Purchases Preferred Stock in Connection with Business Combination

In connection with the closing, 1347 Investors LLC (the Sponsor) purchased 400,000 newly issued shares of Class A preferred stock for $10,000,000.

“In addition, pursuant to the terms of the Merger Agreement, the Company issued and sold to 1347 Investors LLC (the “Sponsor”) 400,000 newly issued shares of Class A preferred stock (the “Preferred Stock”) for $10,000,000.”

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