{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-036810","form_type":"8-K","ticker":null,"cik":"0001922858","company_name":"ECD Automotive Design, Inc.","filed_at":"2023-10-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.405308+00:00","generated_at":"2026-06-10T01:51:20.444828+00:00","sec_items":["2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"EF Hutton Acquisition Corp I secures $15.8M convertible note for ECD Auto Design merger","bullets":["Issued senior secured convertible note for $15.8M principal; net proceeds ~$13.7M.","Conversion price initially $10/share, subject to adjustment with floor of $6 on registration effective date.","Interest rate Prime+5% (cash) or Prime+8% (stock premium); convertible at 115% of principal plus accrued interest.","Note secured by all company assets; includes 4.99% beneficial ownership blocker and 20% redemption premium.","Proceeds intended to fund business combination with ECD Auto Design (restored luxury Land Rovers)."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-036810","json":"https://secwatch.observer/filing/0001493152-23-036810.json","markdown":"https://secwatch.observer/filing/0001493152-23-036810.md","text":"https://secwatch.observer/filing/0001493152-23-036810.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1922858/000149315223036810/0001493152-23-036810-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1922858/000149315223036810/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T01:51:20.444828+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1d8bb6519e44e869781473c10d758138ed47dbf0","claim":"ECD Automotive Design, Inc. incurred senior notes of $15,819,209 with an institutional investor at Prime Interest rate plus 5% per annum.","evidence_excerpt":"the Company entered into a securities purchase agreement (the “SPA”) with an institutional investor (the “Lender”) pursuant to which the Company agreed to execute and deliver to the Lender a senior secured convertible note (the “Note”), a copy of which is an exhibit to the SPA, in exchange for a loan in the principal amount of $15,819,209.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1922858/000149315223036810/0001493152-23-036810-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$15,819,209"},{"label":"Counterparty","value":"an institutional investor"},{"label":"Rate","value":"Prime Interest rate plus 5% per annum"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}