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Corrected: ECD Automotive Design Granted Continued Listing by the Nasdaq Hearings Panel
Globenewswire· 2025-09-25 13:05
Core Points - ECD Automotive Design, Inc. has been granted continued listing on The Nasdaq Stock Market by the Nasdaq Hearings Panel, allowing the company to maintain its listing while addressing specific conditions [2] - The company has demonstrated encouraging financial momentum with record quarterly revenue and an expanded product offering [2] - ECD executed a $500 million equity line of credit and converted $13.7 million in debt to preferred equity, along with an additional purchase of $1.1 million in preferred stock [3] Company Overview - ECD is the world's largest Land Rover and Jaguar restoration company, known for custom luxury builds including bespoke Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs [2] - The company was founded in 2013 and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 102 staff, including 67 craftsmen with a combined 66 ASE certifications [4] - ECD focuses on creating fully bespoke vehicles, designed through a luxury experience and hand-built over 2,200 hours [4] Compliance Requirements - The company must demonstrate compliance with the minimum bid price requirement of $1.00 for ten consecutive trading days by October 1, 2025 [6] - ECD is also required to meet the equity standard of at least $2.5 million in stockholder equity by January 7, 2026 [6]
ECD Automotive Design Corrects CUSIP Number
Globenewswire· 2025-09-17 22:15
Company Overview - ECD Automotive Design, Inc. is 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][2] - 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 and three master level certifications [2] Recent Developments - ECD has corrected the CUSIP number for its post Reverse Stock Split common stock to 27877D203, effective from market opening on September 18, 2025, with trading continuing under the existing symbol "ECDA" [1] - The company emphasizes its commitment to quality, with each vehicle taking approximately 2,200 hours to hand-build, tailored to the client's specifications through a luxury design experience [2] Market Position - ECD combines classic English aesthetics with modern performance in its restored luxury vehicles, positioning itself uniquely in the automotive restoration market [2] - The company has expanded its offerings to include recently added models such as the Ford Mustang and Toyota FJ, indicating growth and diversification in its product line [2]
ECD Automotive Design Announces 1-for-40 Reverse Stock Split
Globenewswire· 2025-09-12 21:15
Core Points - ECD Automotive Design, Inc. will implement a 1-for-40 reverse stock split effective September 18, 2025, to increase its stock price above the $1.00 minimum bid requirement for Nasdaq listing [1][2] - The reverse stock split will reduce the number of outstanding shares from approximately 59,091,136 to about 1,477,278 shares, without changing the number of authorized shares or par value [3] - Shareholders holding shares electronically will not need to take action, while those with certificated shares will receive instructions from the transfer agent [4] Company Overview - ECD is the world's largest Land Rover and Jaguar restoration company, known for custom luxury builds including bespoke Defenders, Range Rovers, and Jaguar E-Types [1][6] - Founded in 2013, ECD combines classic vehicle aesthetics with modern performance, employing 102 staff, including 67 craftsmen with numerous certifications [6] - The company operates from a 100,000-square-foot facility in Kissimmee, Florida, and has a logistics center in the U.K. for sourcing restoration vehicles [6]
ECD Automotive Design Secures $500M Equity Facility to Fund a Bitcoin Treasury
Globenewswire· 2025-06-23 12:31
Core Insights - ECD Automotive Design, Inc. has signed a $500 million equity facility to implement a Bitcoin treasury strategy and support growth initiatives [1][3][6] - The company aims to engage the Bitcoin and digital asset communities, offering incentives for customers who purchase vehicles with Bitcoin [2][6] Financial Strategy - The proceeds from the $500 million facility will be used to acquire Bitcoin for the corporate treasury and fund general corporate purposes [3][6] - The company has the discretion to issue and sell up to $500 million in newly issued shares, with no obligation to draw on the facility [3][4] Customer Engagement - ECD plans to attract customers from the digital asset community by offering a $21,000 credit for vehicle upgrades to the first 21 customers who purchase a vehicle using Bitcoin [2][6] - The initiative reflects the company's confidence in the long-term potential of digital assets and aims to create value for shareholders and customers [3] Company Overview - ECD Automotive Design specializes in restoring luxury vehicles, including Land Rover and Jaguar models, and has a bespoke vehicle production process [5] - The company was founded in 2013 and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing skilled craftsmen [5]