secwatch.observer — SEC 8-K summary
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Issuer:     ECD Automotive Design, Inc. (—)
CIK:        0001922858
Form:       8-K
Filed at:   2023-10-11T23:59:59+00:00
Accession:  0001493152-23-036810
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1922858/000149315223036810/0001493152-23-036810-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1922858/000149315223036810/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-036810

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