ECD Automotive Design Granted Continued Listing by the Nasdaq Hearings Panel

Core Viewpoint - ECD Automotive Design, Inc. has received approval from the Nasdaq Hearings Panel to continue its listing on Nasdaq, contingent upon meeting specific conditions related to minimum bid price and equity standards [1][5]. Group 1: Company Overview - ECD is recognized as the world's largest Land Rover and Jaguar restoration company, specializing in custom luxury builds, including bespoke Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs [1][3]. - The company was founded in 2013 by three British automotive enthusiasts and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 102 staff, including 67 craftsmen and technicians with a total of 66 ASE certifications [3]. Group 2: Financial Actions and Compliance - To comply with the $1.00 minimum bid price requirement, ECD executed a 1-for-40 reverse stock split of its common stock on September 18, 2025 [2]. - In June 2025, ECD secured a $500 million equity line of credit and a lender converted $15.5 million in debt to preferred equity, along with an additional purchase of $1.1 million in preferred stock [2]. - The company aims to demonstrate compliance with the minimum bid price by achieving a closing bid price of $1.00 or more for ten consecutive trading days by October 1, 2025, and to meet the equity standard of at least $2.5 million by January 7, 2026 [5]. Group 3: Management Commentary - Scott Wallace, CEO and Co-Founder of ECD, expressed satisfaction with the Panel's decision, highlighting the company's recent financial results, which show record quarterly revenue and an expanded product offering [1].