ECD Automotive Design, Inc.: debt financing — ECD Automotive converts $2.46M loan into Series C preferred, issues $0.82M senior convertible note

ECD Automotive Design, Inc.

Lender converted $2,462,805 Loan Agreement balance into 5,000 Series C Preferred shares at $2.00/sh conversion.
Series C Preferred earns 5% annual dividend, payable quarterly in kind or cash, convertible to common at $2.00/sh.
New $823,960 Senior Secured Convertible Note issued, maturing Dec 12, 2026, interest at Prime+5% (or +8% if PIK).
Note convertible at $2.00/sh; alternate conversion at 85% of VWAP on default; optional redemption at 20% premium.
This follows June 20 exchange of Series B for Series C and April 4 Loan Agreement; all with same private lender.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ECD Automotive Design, Inc. incurred senior notes of $823,960.33 with the Lender at Prime Interest rate plus 5% per annum maturing December 12, 2026.

Instrument: senior notes
Principal: $823,960.33
Counterparty: the Lender
Rate: Prime Interest rate plus 5% per annum
Maturity: December 12, 2026
Event: incurrence

Exact text from the filing

the Company executed and delivered to the Lender a senior secured convertible note, dated July 7, 2025 (the "July 2025 Note"), in exchange for a loan in the original principal amount of $823,960.33.

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Source: SEC EDGAR

accession 0001213900-25-061673

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