ECD Auto Design issues up to $22M senior secured convertible note; initial $824K drawn

ECD Automotive Design, Inc.

June 5, 2025 SPA for a series of convertible notes up to $21.97M; initial closing note of $823,960.33.
Conversion at $2.00/share with a 15% premium; holder may also convert at 85% of VWAP after default.
Interest at Prime +5% (cash) or Prime +8% (securities); maturity December 12, 2026.
Company redemption at 20% premium; change-of-control redemption at 25% premium.
Note covers and amends prior December and August notes; existing defaults (restatements, late filings) persist.

item 2.03item 9.01

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