ECD Automotive Design Inc. has secured a new corporate financing agreement as part of its recent business combination. The company, previously known as EF Hutton Acquisition Corporation I, completed a merger with Humble Imports Inc. and ECD Auto Design UK, Ltd. On December 12, 2023, ECD Automotive Design Inc. closed a debt financing transaction with an institutional investor, facilitated by the Securities Purchase Agreement dated October 6, 2023. This agreement led to the issuance of a senior secured convertible note valued at $15,819,209, with the company set to receive $13,700,000 in proceeds before expenses. The financing arrangement includes a security interest in the company's current and future assets, as well as intellectual property owned by Humble and ECD UK. Additionally, insider stockholders are restricted from selling company common stock for six months following the effective registration of shares underlying the note.