---
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"
generated_at: "2026-06-10T01:51:20.444828+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# EF Hutton Acquisition Corp I secures $15.8M convertible note for ECD Auto Design merger

## Summary
- 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).

## SEC filing metadata
- accession: 0001493152-23-036810
- form_type: 8-K
- cik: 0001922858
- company_name: ECD Automotive Design, Inc.
- filed_at: 2023-10-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.03, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-036810
- JSON: https://secwatch.observer/filing/0001493152-23-036810.json
- Plain text: https://secwatch.observer/filing/0001493152-23-036810.txt

## Key facts
- Debt Financings
  ECD Automotive Design, Inc. incurred senior notes of $15,819,209 with an institutional investor at Prime Interest rate plus 5% per annum.
  - Instrument: senior notes
  - Principal: $15,819,209
  - Counterparty: an institutional investor
  - Rate: Prime Interest rate plus 5% per annum
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1922858/000149315223036810/0001493152-23-036810-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.