ECD Automotive Design Files 8-K

TL;DR

ECD Automotive Design just filed an 8-K for a new financial obligation.

AI Summary

On January 8, 2025, ECD Automotive Design, Inc. filed an 8-K report detailing a direct financial obligation. The filing indicates the company's fiscal year ends on December 31st and its incorporation jurisdiction is Delaware. The company's business address is located at 24 Shipyard Drive, Suite 102, Hingham, MA.

Why It Matters

This 8-K filing signals a new financial obligation for ECD Automotive Design, Inc., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a new financial obligation, which introduces a degree of financial risk that warrants attention.

Key Numbers

• 001-41497 — SEC File Number (Identifies the company's filing with the SEC.)
• 86-2559175 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• ECD Automotive Design, Inc. (company) — Registrant
• January 8, 2025 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 24 Shipyard Drive, Suite 102, Hingham, MA (address) — Business Address

FAQ

Key Financial Figures

• $2,000,000 — y Preferred Stock and a cash payment of $2,000,000 pro rata to the former security holders
• $15,819,209 — e for a loan in the principal amount of $15,819,209. A copy of the December Note is attache
• $13,700,000, b — under the December Note in an amount of $13,700,000, before payment of expenses. In connectio
• $1,154,681 — e for a loan in the principal amount of $1,154,681. The August SPA provided further that
• $11.50 — 's common stock at an exercise price of $11.50 per share (the "Common Share Warrant").
• $1,724,100 — e for a loan in the principal amount of $1,724,100. 2 The January 13, 2025 Senior Secure
• $0.0001 — f the Company's common stock, par value $0.0001 per share ("Common Stock") at the optio
• $10.00 — of the Lender at a conversion price of $10.00 per share (the "Conversion Price"), sub
• $2.00 — ed average price, subject to a floor of $2.00. The conversion price is also subject t

Filing Documents

• ea0227589-8k_ecdauto.htm (8-K) — 68KB
• ea022758901ex10-1_ecdauto.htm (EX-10.1) — 330KB
• ea022758901ex10-2_ecdauto.htm (EX-10.2) — 323KB
• ea022758901ex10-3_ecdauto.htm (EX-10.3) — 178KB
• ea022758901ex10-4_ecdauto.htm (EX-10.4) — 169KB
• 0001213900-25-003462.txt ( ) — 1545KB
• ecda-20250108.xsd (EX-101.SCH) — 3KB
• ecda-20250108_def.xml (EX-101.DEF) — 26KB
• ecda-20250108_lab.xml (EX-101.LAB) — 36KB
• ecda-20250108_pre.xml (EX-101.PRE) — 25KB
• ea0227589-8k_ecdauto_htm.xml (XML) — 5KB

03 Creation of a Direct Financial Obligation

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. Business Combination As previously disclosed in a Current Report on Form 8-K filed on December 18, 2023 (the "Super 8-K"), ECD Automotive Design, Inc. (the "Company"), completed the business combination (the "Business Combination") contemplated by the merger agreement, dated as of March 3, 2023 (the "Merger Agreement") by and among the Company, formerly known as EF Hutton Acquisition Corporation I, Humble Imports Inc., d/b/a ECD Auto Design, a Florida corporation ("Humble"), ECD Auto Design UK, Ltd., an England and Wales corporation (the "ECD UK"), EFHAC Merger Sub, Inc., a Florida corporation ("Merger Sub") and wholly-owned subsidiary of the Company, and Scott Wallace, as the Securitiyholder Representative. The Merger Agreement was previously reported on the Current Report on Form 8-K filed by EFHT with the SEC on March 6, 2023. Pursuant to the Merger Agreement, on December 12, 2023, the Company issued 25,100,000 shares of common stock ("Company Common Stock"), 39,000 shares of the Company's Series A Convertible Preferred Stock (the "Company Preferred Stock"), a warrant to purchase 1,091,535 shares of Company Common Stock, a warrant to purchase 15,819 shares of Company Preferred Stock and a cash payment of $2,000,000 pro rata to the former security holders of Humble. Closing of December 12, 2023 Senior Secured Convertible Note Immediately prior to the closing of the Business Combination on December 12, 2023, the Company closed a debt financing transaction contemplated by the Securities Purchase Agreement, dated October 6, 2023 (the "December SPA"), by and between the Company and an institutional investor (the "Lender"). The December SPA was previously reported on the Current Report on Form 8-K filed by EFHT with the SEC on October 11, 2023 and the December SPA is attached to such Current Report as Exhibit 10.1. Pursuant the December S

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 10.1* Form of Securities Purchase Agreement, dated as of January 8, 202 5 10.2* Form of Senior Secured Convertible Note, dated as of January 13, 2025 10.3* Form of Common Share Warrant, dated as of January 13, 2025 10.4* Form of Registration Rights Agreement, dated January 13, 2025 104* Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) * Filed herewith. ** Furnished herewith. 6

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: January 14, 2025 ECD AUTOMOTIVE DESIGN, INC. By: /s/ Benjamin Piggott Name: Benjamin Piggott Title: Chief Financial Officer 7

View Full Filing

View this 8-K filing on SEC EDGAR