EF Hutton Acquisition I shareholders approve extension to March 2024; $82.5M redeemed

ECD Automotive Design, Inc.

Shareholders approved extension of business combination deadline from June 13, 2023 to March 13, 2024.
8,007,353 shares tendered for redemption; approximately $82.5 million to be paid from trust account.
Vote results: 10,976,702 for, 548,902 against, 990,000 abstain (85.5% shares represented).
Merger with ECD Auto Design remains pending; large redemptions reduce trust available for the deal.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

ECD Automotive Design, Inc.: Amended Amended and Restated Certificate of Incorporation to extend business combination period from June 13, 2023 to March 13, 2024 (effective 2023-06-01).

Change: charter amendment
Effective: 2023-06-01

Exact text from the filing

EF Hutton Acquisition Corporation I (“SPAC”) filed an amendment to its Amended and Restated Certificate of Incorporation with the Delaware Secretary of State on June 1, 2023 (the “Extension Amendment”), giving SPAC the right to extend the time for SPAC to complete its business combination (the “Business Combination Period”) from June 13, 2023 to March 13, 2024.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ECD Automotive Design, Inc. shareholders approved Extension Amendment to amend Amended and Restated Certificate of Incorporation to extend Business Combination Period at the 2023-06-01 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-06-01

Exact text from the filing

Stockholders approved the proposal to amend SPAC’s Amended and Restated Certificate of Incorporation, giving SPAC the right to extend the Business Combination Period from June 13, 2023 to March 13, 2024. Adoption of the Extension Amendment required approval by the affirmative vote of at least a majority of SPAC’s outstanding shares of common stock. The voting results were as follows: FOR AGAINST ABSTAIN 10,976,702 548,902 990,000

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Source: SEC EDGAR

accession 0001493152-23-019945

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