Private company

ECD Automotive Design, Inc.

ECD Automotive Design, Inc. is an American motor vehicles and passenger car bodies company.1 It is headquartered in Hingham, Massachusetts.1

Last updated Oct 20, 2026.

Overview

  • IndustryMotor Vehicles & Passenger Car Bodies1
  • HeadquartersHingham, Massachusetts1
  • Incorporated inDE2
  • Business address24 Shipyard Drive, Suite 102, Hingham, Ma 020432
  • Filer category, Emerging growth company2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

23.4%Gross margin4
-18.1%Operating margin4
-42.8%Net margin4
29.1%Revenue growth, 20244

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue77¢$19.3M
  • Other costs20¢$5.0M
  • Income tax3¢$838.1K

Out of $25.2M in revenue.4 The company lost money this year.

Financial statements

Revenue54$25.2M in 2024+162% since 2022
0$10.0M$20.0M$30.0M2022: $9.6M$9.6M20222023: $19.5M$19.5M2023+103%2024: $25.2M$25.2M2024+29%
Gross profit54$5.9M in 2024+510% since 2022
0$2.0M$4.0M$6.0M2022: $965.0K$965.0K20222023: $4.5M$4.5M2023+369%2024: $5.9M$5.9M2024+30%
Operating income54-$4.5M in 2024+75% since 2022
-$6.0M-$4.0M-$2.0M02022: -$2.6M-$2.6M20222023: -$1.5M-$1.5M2023−41%2024: -$4.5M-$4.5M2024+196%
Net income54-$10.8M in 2024+342% since 2022
-$15.0M-$10.0M-$5.0M02022: -$2.4M-$2.4M20222023: -$1.2M-$1.2M2023−52%2024: -$10.8M-$10.8M2024+814%
Fiscal year2021202220232024
Revenue$9.6M5$19.5M4$25.2M4
Cost of revenue$8.7M5$15.0M4$19.3M4
Gross profit$965.0K5$4.5M4$5.9M4
Operating expenses$3.6M5$6.1M4$10.4M4
Operating income-$2.6M5-$1.5M4-$4.5M4
Income before tax-$2.4M5-$2.0M4-$9.9M4
Income tax$206.4K8-$838.1K4$838.1K4
Net income-$2.4M5-$1.2M4-$10.8M4
Earnings per share-$0.105-$0.054-$0.324
Earnings per share (diluted)-$0.105-$0.054-$0.324
Shares (weighted, basic)3.4M shares824.9M shares433.5M shares4
Shares (weighted, diluted)24.0M shares524.9M shares433.5M shares4

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Corporate structure

ECD Automotive Design, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of ECD Automotive Design, Inc.

  • ATW Partners Opportunities Management, LLC Filed SCHEDULE 13D/A on ECD Automotive Design, Inc., latest Mar 25, 2026 (2 filings since Mar 12, 2026)
  • SZOP Multistrat Management LLC Filed SCHEDULE 13G/A on ECD Automotive Design, Inc., latest Dec 22, 2025 (2 filings since Nov 14, 2025)
  • Scott Malcom Wallace Filed SCHEDULE 13D/A on ECD Automotive Design, Inc., latest Feb 18, 2025 (2 filings since Jan 25, 2024)
  • ATW OPPORTUNITIES MASTER FUND II LP Filed SCHEDULE 13G/A on ECD Automotive Design, Inc., latest Feb 14, 2025 (3 filings since Dec 22, 2023)
  • Emily Jayne Humble Filed SCHEDULE 13D/A on ECD Automotive Design, Inc., latest Feb 14, 2025 (2 filings since Jan 25, 2024)
  • Thomas Ashley Humble Filed SCHEDULE 13D/A on ECD Automotive Design, Inc., latest Feb 14, 2025 (2 filings since Jan 25, 2024)
  • ATW SPAC MANAGEMENT LLC Filed SC 13G/A on ECD Automotive Design, Inc., latest Feb 14, 2024 (2 filings since Feb 14, 2023)
  • BOOTHBAY FUND MANAGEMENT, LLC Filed SC 13G/A on ECD Automotive Design, Inc., latest Feb 14, 2024 (2 filings since Feb 10, 2023)
  • MANGROVE PARTNERS IM, LLC Filed SC 13G/A on ECD Automotive Design, Inc., latest Feb 14, 2024 (3 filings since Sep 19, 2022)
  • Polar Asset Management Partners Inc. Filed SC 13G/A on ECD Automotive Design, Inc., latest Feb 13, 2024 (2 filings since Feb 9, 2023)
  • Taconic Capital Advisors LP Filed SC 13G/A on ECD Automotive Design, Inc., latest Feb 12, 2024 (2 filings since Feb 10, 2023)
  • Yakira Capital Management, Inc. Filed SC 13G/A on ECD Automotive Design, Inc., latest Jan 26, 2024 (2 filings since Jan 31, 2023)
  • ECD Automotive Design, Inc. Hingham, Massachusetts

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What ECD Automotive Design, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$773.3K4 Dec 31, 2024$1.2M4 Dec 31, 2023−32.8%
Accumulated depreciation$289.5K4 Dec 31, 2024$238.2K4 Dec 31, 2023+21.5%
Property and equipment, net$483.9K4 Dec 31, 2024$913.1K4 Dec 31, 2023−47.0%
Operating-lease assets (leased space)$3.4M4 Dec 31, 2024$3.8M4 Dec 31, 2023−9.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.5M4 Dec 31, 2024$8.1M4 Dec 31, 2023−81.8%
Deposits held (banks)$8.3M5 Dec 31, 2023$10.0M5 Dec 31, 2022−17.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.3M4 Dec 31, 2024
Intangible assets, net (excluding goodwill)$12.0K4 Dec 31, 2024

Inventory

ItemLatestA year beforeChange
Inventory, total$11.2M4 Dec 31, 2024$9.6M4 Dec 31, 2023+16.4%
Work in process$4.5M4 Dec 31, 2024$1.5M4 Dec 31, 2023+199.7%
Finished goods$3.8M4 Dec 31, 2024$5.7M4 Dec 31, 2023−33.3%

Properties, in its own words

ECD leases its manufacturing facility of over 100,000 square feet, which is located in the Trinity Industrial Center at 4930 Industrial Lane, Unit 107, Kissimmee, FL 34758 (the “Trinity Center Lease”). A copy of the Trinity Center Lease is attached as Exhibit 10.16 to this annual report. ECD UK leases 7,432 square feet at Unit 5, “Q” Block”, The Crown Industrial Estate, Oxford Street, Burton Upon Trent, Staffordshire.

We believe that all our properties have been adequately maintained, are generally in good condition, and are suitable and adequate for our business.

Item 2 of the 10-K filed Apr 15, 2025.3

Leadership

Who has led ECD Automotive Design, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Benjamin J. Piggott2022
  2. Scott Malcom Wallace2023

President

  1. David Boral2022
  2. Joseph Thomas Rallo2022

Chief financial officer

  1. Kevin Bush2022
2025
Board members and other officers (13)

Former names

  • EF Hutton Acquisition Corp IApr 14, 2022 to Dec 13, 20232

Timeline

  1. Mar 30, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares22
  2. Mar 18, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares23
  3. Mar 12, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares24
  4. Jan 15, 20268-K Listing notice or transfer25
  5. Jan 15, 20268-K Shareholder vote26
  6. Jan 7, 20268-K Other events27
  7. Jan 2, 20268-K Listing notice or transfer28
  8. Dec 29, 20258-K Regulation FD disclosure29
  9. Dec 22, 20258-K Regulation FD disclosure30
  10. Dec 19, 20258-K Change to shareholders' rights; Executive or director change; Regulation FD disclosure31
  11. Dec 10, 20258-K Executive or director change32
  12. Nov 25, 20258-K Regulation FD disclosure33
  13. Dec 15, 2023New chief executive Scott Malcom Wallace becomes CEO10
  14. Sep 20, 2022New chief executive Benjamin J. Piggott becomes CEO11

Calendar

When it reported results

  1. Apr 16, 2025Reported quarterly or annual results34
  2. Aug 20, 2024Reported quarterly or annual results35

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

248 filings to the SEC since October 2021: 6 annual reports, 10 quarterly reports, 81 major events, 27 insider forms, 31 large holders, 93 other. The latest 20:

  1. Mar 30, 202615-15D EDGAR
  2. Mar 30, 20268-K EDGAR
  3. Mar 25, 2026SCHEDULE 13D/A EDGAR
  4. Mar 25, 20264 EDGAR
  5. Mar 23, 20263 EDGAR
  6. Mar 20, 202625 EDGAR
  7. Mar 18, 20268-K EDGAR
  8. Mar 12, 2026SCHEDULE 13D EDGAR
  9. Mar 12, 20268-K EDGAR
  10. Jan 15, 20268-K EDGAR
  11. Jan 15, 20268-K EDGAR
  12. Jan 15, 2026PRE 14A EDGAR
  13. Jan 12, 2026424B3 EDGAR
  14. Jan 7, 2026DEFA14A EDGAR
  15. Jan 7, 20268-K EDGAR
  16. Jan 2, 20268-K EDGAR
  17. Dec 29, 2025DEF 14A EDGAR
  18. Dec 29, 20258-K EDGAR
  19. Dec 22, 2025SCHEDULE 13G/A EDGAR
  20. Dec 22, 20258-K EDGAR

The 248 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 13, 2022Rallo Joseph ThomasCo-President and DirectorBuy15,000$10.00$150.0KForm 4
Sep 13, 2022Boral DavidCo-President and DirectorBuy15,000$10.00$150.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How ECD Automotive Design, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARECD Automotive Design, Inc.1
  • CIK0001922858
  • Employer ID (EIN)86-25591753
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)3711 Motor Vehicles & Passenger Car Bodies1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address24 Shipyard Drive, Suite 102, Hingham, MA 020431
  • Phone929-528-07671
  • Shares outstanding2,497,056 as of Nov 17, 20257
  • Public float$9.0M as of Jun 30, 20243
  • AuditorBarton CPA PLLC, Cypress, Texas PCAOB ID 6968; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceApr 14, 20221
  • Filings252 in all: 8-K (79), 3 (19), CORRESP (15), SC 13G (13), UPLOAD (13), S-1/A (11), 10-Q (10), 425 (10)1
    All 39 form types

    NT 10-Q (9), SC 13G/A (9), PRE 14A (5), 3/A (4), 4 (4), 424B3 (4), DEF 14A (4), SCHEDULE 13D/A (4), 10-K (3), 10-K/A (3), S-1 (3), S-4/A (3), SC 13D (3), 25-NSE (2), 424B4 (2), 8-K/A (2), EFFECT (2), NT 10-K (2), SCHEDULE 13G/A (2), 15-15D (1), 25 (1), 8-A12B (1), CERT (1), DEFA14A (1), DEFR14A (1), DRS (1), S-4 (1), S-8 (1), SCHEDULE 13D (1), SCHEDULE 13G (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Apr 15, 2025
    Quarterly report (10-Q) Nov 20, 2025
    Proxy statement (DEF 14A) Dec 29, 2025
    Latest 8-K (8-K) Mar 30, 2026

Securities registered for trading

ClassSymbolExchange
Common StockECDANasdaq
WarrantsECDAWNasdaq

From the cover page of the 10-K filed Apr 15, 2025 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks ECD Automotive Design, Inc. names in Item 1A of its 10-K filed Apr 15, 2025: 58 risks under these headings, as written.3

  • Risks Related to ECD
  • ECD has a limited operating history with a history of losses, and expects to incur significant expenses for the near term.
  • If we fail to manage our growth effectively, our business could be harmed.
  • ECD’s business strategy may not be successfully implemented, which could negatively impact its financial results and stock price.
  • ECD’s vehicles are highly customized and may not perform in a manner consistent with customers’ expectations.
  • ECD’s business is highly dependent on the price, availability and quality of base vehicles.
  • ECD’s ability to predict future demand for its vehicles and inventory is limited, which limits the accuracy of ECD’s financial forecasts.
  • ECD does not have a diversified range of operations or portfolio of investments, and ECD’s business is highly specific to the customization and restoration of Land Rover Series, Land Rover Defenders, Range Rover Classics, Jaguar, Ford Mustang and Toyota FJ car models.
  • ECD’s ability to create, design, develop, manufacture, and deliver automobiles of high quality on schedule and on a large scale is unproven.
  • ECD’s business is highly specialized and dependent on a continuing demand for high-end, luxury customer passenger vehicles.
  • ECD may fail to adequately obtain, maintain, enforce and protect ECD’s intellectual property and may not be able to prevent third parties from unauthorized use of ECD’s intellectual property and proprietary technology.
  • ECD’s business depends on the success of its marketing strategies.
The other 47 risks
  • ECD’s success is dependent on the continued leadership and experience of ECD Initial Securityholders, and the loss of their services may have a material and adverse effect on ECD’s operations and financial condition.
  • ECD may lose or fail to attract and retain key management personnel and salaried employees.
  • The requirements of being a public company may strain our resources and distract our management, which could make it difficult to manage our business, particularly after we are no longer an “emerging growth company.”
  • ECD may incur losses and costs because of warranty claims and product liability and intellectual property infringement actions that may be brought against ECD.
  • ECD’s business could be adversely affected by computer malware, viruses, ransomware, hacking, phishing attacks and security threats, including cybersecurity threats and related disruptions, which could result in security and privacy breaches and interruption in service.
  • Risks Related to ECD’s Business and Industry
  • The luxury automotive industry has significant barriers to entry that ECD must continue to overcome to manufacture and sell custom luxury vehicles at scale.
  • The custom, luxury automotive market is highly competitive and ECD may not be successful in competing in this industry.
  • ECD operates in a regulatory environment that is evolving and uncertain. ECD may not be able to respond quickly enough to changes in regulations, technology and technological risks, and to develop ECD’s intellectual property into commercially viable products.
  • Risks Related to Financing Our Business
  • ECD may require additional financing after the Business Combination.
  • General Risk Factors Applicable to ECD
  • General economic conditions may materially and adversely affect ECD’s business.
  • Inflationary pressures and persistently high prices and uncertain availability of inputs used by ECD and ECD’s suppliers, or instability in logistics and related costs, could negatively impact ECD’s profitability. Pending tariffs proposed by the Trump Administration, may also negatively impact the cost structure of ECD’s supply chain, and ECD may not be able to pass these price increases on to its customers.
  • ECD’s business is highly dependent on international and single-source component suppliers, and any changes in governmental regulations and international trade relations conditions may materially and adversely affect ECD’s business.
  • Pandemics, epidemics, disease outbreaks and other public health crises, such as the COVID-19 pandemic, have disrupted our business and operations, and future public health crises could materially adversely impact our business, financial condition, liquidity and results of operations.
  • Risks Related to Ownership of the Company Common Stock
  • The market price of our equity securities may be volatile, and your investment could suffer or decline in value.
  • The Company will issue shares of the Company Common Stock or other equity or convertible debt securities without approval of the holders of the Company Common Stock, which would dilute then-existing ownership interests and may depress the market price of the Company Common Stock.
  • If securities or industry analysts do not publish research, publish inaccurate or unfavorable research, or cease publishing research about the Company, its share price and trading volume could decline significantly.
  • The resales of shares of the Company Common Stock issued to ECD Securityholders and other significant stockholders may cause the market price of the Company Common Stock to drop significantly, even if the Company’s business is doing well.
  • We do not expect that the Company will pay dividends in the foreseeable future after the Merger.
  • The existence of indemnification rights to the Company’s directors, officers, and employees may result in substantial expenditures by the Company and may discourage lawsuits against its directors, officers, and employees.
  • If ECD fails to develop or maintain an effective system of internal control over financial reporting, it may not be able to accurately report its financial results or prevent financial fraud. As a result, current and potential stockholders could lose confidence in its financial reporting.
  • Agreements governing our debt obligations include financial and other covenants that provide limitations on our business and operations under certain circumstances, and failure to comply with any of the covenants in such agreements could adversely impact us.
  • We do not have the right to control the timing and amount of the issuance of our Common Stock to Lender and, accordingly, it is not possible to predict the actual number of shares we will issue pursuant to the conversion of a Convertible Note at any one time or in total.
  • Our stockholders will experience significant dilution as a result of conversion of the Convertible Note and exercise of outstanding warrants held by the Lender.
  • Risks Related to Intellectual Property
  • Confidentiality agreements with employees and others may not adequately prevent disclosure of trade secrets and other proprietary information and disclosure of our trade secrets or proprietary information could compromise any competitive advantage that we have, which could have a materially adverse effect on our business.
  • Our failure to secure trademark registrations could adversely affect our ability to market our products and operate our business.
  • There can be no assurance we will be able to comply with the continued listing standards of Nasdaq for our Common Stock.
  • Concentration of ownership among ECD’s existing executive officers, directors and their affiliates may prevent new investors from influencing significant corporate decisions.
  • Sales of a substantial number of shares of our securities in the public market could cause the price of our securities to fall.
  • The grant and future exercise of registration rights may adversely affect the market price of our securities upon consummation of the Business Combination.
  • Our amended and restated certificate of incorporation grants our board the power to issue additional shares of common and preferred stock and to designate series of preferred stock, all without stockholder approval.
  • Neither ECD nor EFHT has ever paid cash dividends on its capital stock, and we do not anticipate paying dividends in the foreseeable future.
  • The trading price our securities is likely to be volatile, and you may not be able to sell our securities at or above the price you paid.
  • If securities or industry analysts issue an adverse opinion regarding our Common Stock or do not publish research or reports about us, the price and trading volume of our securities could decline.
  • We may redeem your unexpired warrants prior to their exercise at a time that is disadvantageous to you, thereby making your warrants worthless.
  • Anti-takeover provisions contained in our amended and restated certificate of incorporation and bylaws, and in applicable law, could impair a takeover attempt.
  • Our amended and restated certificate of incorporation provides, subject to limited exceptions, that the Court of Chancery of the State of Delaware will be the sole and exclusive forum for certain stockholder litigation matters, which could limit stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees or stockholders.
  • General Risk Factors
  • Damage to our reputation or our brand could negatively impact our business, financial condition, and results of operations.
  • We may pursue acquisitions of complementary businesses or technologies, which could divert the attention of management and which may not be integrated successfully into our existing business.
  • We depend on certain key personnel.
  • Members of our board of directors will have other business interests and obligations to other entities.
  • We will need to carefully manage our expanding operations to achieve sustainable growth.
  • Downturns or volatility in general economic conditions could have a material adverse effect on our business, financial condition, results of operations and liquidity.
  • Our management team has limited experience managing a public company.
  • Inadequate internal controls could result in inaccurate financial reporting.
  • As a public company, we have incurred and expect to continue to incur increased expenses associated with the costs of being a public company.
  • Our actual operating results may differ significantly from our guidance.
  • We qualify as an “emerging growth company” within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to emerging growth companies, it could make our securities less attractive to investors and may make it more difficult to compare our performance to the performance of other public companies.

Legal proceedings

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition or operating results.

The opening of Item 3, Legal Proceedings.3

Sources

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