ECD Automotive Design Faces Delisting Concerns
Ticker: ECDA · Form: 8-K · Filed: Dec 11, 2024 · CIK: 1922858
Sentiment: bearish
Topics: delisting, listing-rules, compliance
Related Tickers: ECDA
TL;DR
ECDA might get delisted - filing shows listing rule issues.
AI Summary
ECD Automotive Design, Inc. filed an 8-K on December 11, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The company, formerly EF Hutton Acquisition Corp I, is incorporated in Delaware and its fiscal year ends on December 31st. The filing also includes Regulation FD disclosures and financial statements.
Why It Matters
This filing indicates potential issues with ECD Automotive Design's compliance with stock exchange listing standards, which could impact its stock's tradability and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event that can lead to severe consequences for the company's stock.
Key Players & Entities
- ECD Automotive Design, Inc. (company) — Registrant
- EF Hutton Acquisition Corp I (company) — Former Company Name
- December 6, 2024 (date) — Date of earliest event reported
- December 11, 2024 (date) — Date of Report
- 001-41497 (other) — Commission File Number
FAQ
What specific listing rule has ECD Automotive Design, Inc. failed to satisfy?
The filing indicates a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' but does not specify the exact rule in the provided text.
When was ECD Automotive Design, Inc. formerly known as?
The company was formerly known as EF Hutton Acquisition Corp I, with a date of name change on April 11, 2022.
What is the Commission File Number for ECD Automotive Design, Inc.?
The Commission File Number for ECD Automotive Design, Inc. is 001-41497.
What is the business address of ECD Automotive Design, Inc.?
The business address is 24 Shipyard Drive, Suite 102, Hingham, MA 02043.
What is the primary SIC code for ECD Automotive Design, Inc.?
The Standard Industrial Classification (SIC) code is 3711, which corresponds to MOTOR VEHICLES & PASSENGER CAR BODIES.
Filing Stats: 725 words · 3 min read · ~2 pages · Grade level 11.5 · Accepted 2024-12-11 16:45:29
Filing Documents
- ea0224187-8k_ecdauto.htm (8-K) — 32KB
- ea022418701ex99-1_ecdauto.htm (EX-99.1) — 5KB
- 0001213900-24-107924.txt ( ) — 251KB
- ecda-20241206.xsd (EX-101.SCH) — 3KB
- ecda-20241206_def.xml (EX-101.DEF) — 26KB
- ecda-20241206_lab.xml (EX-101.LAB) — 36KB
- ecda-20241206_pre.xml (EX-101.PRE) — 25KB
- ea0224187-8k_ecdauto_htm.xml (XML) — 5KB
01. Notice of Delisting or Failure
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 6, 2024, ECD Automotive Design, Inc. (the "Company") received a notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, because the Company is delinquent in filing its Form 10-Q for the quarter ended September 30, 2024, the Company no longer complies with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule"), which requires companies with securities listed on Nasdaq to timely file all required periodic reports with the SEC. The Notice provided that the Company shall have 60 calendar days to submit a plan to regain compliance with the Listing Rule, and if Nasdaq accepts the Company's plan, Nasdaq can grant the Company an exception of up to 180 calendar days from the Filing's due date, or until May 19, 2025, to regain compliance with the Listing Rule. The Company is diligently working to complete its Form 10-Q for the quarter ended September 30, 2024, and the Company expects to complete and file its Form 10-Q for the quarter ended September 30, 2024 with the SEC to regain compliance with the Listing Rule prior to the expiration of the 60 day period.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure On December 11, 2024, the Company issued a press release announcing the receipt of the Notice from Nasdaq. A copy of the Release is attached hereto as Exhibit 99.1. The information in this Item 7.01, including Exhibit 99.1, is furnished and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to liabilities under that section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filings. This Report will not be deemed an admission as to the materiality of any information of the information contained in this Item 7.01, including Exhibit 99.1.
01. Financial
Item 9.01. Financial (c) Exhibits. The following exhibits are filed as part of, or incorporated by reference into, this Report. No. Description of Exhibit 99.1** Press Release dated December 11, 2024 104* Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) * Filed herewith. ** Furnished herewith. 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: December 11, 2024 ECD AUTOMOTIVE DESIGN, INC. By: /s/ Benjamin Piggott Name: Benjamin Piggott Title: Chief Financial Officer 2