Nasdaq panel grants ECD Automotive continued listing; conditions include bid price and equity minimums

ECD Automotive Design, Inc.

Nasdaq Hearings Panel granted continued listing subject to minimum bid of $1.00 for 10 days by Oct 1, 2025 and equity ≥ $2.5M by Jan 7, 2026.
Company executed 1-for-40 reverse stock split on Sept 18, 2025 to address bid price requirement.
In June 2025, company obtained $500M equity line of credit; lender converted $13.7M debt to preferred equity and bought $1.1M preferred stock.
Prior press release corrected: debt conversion amount is $13.7M, not $15.5M as originally stated.

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