On April 3, 2024, ECD Automotive Design, Inc. (ECD), a Delaware corporation, announced the signing of an Asset Purchase Agreement to acquire certain assets from BNMC Continuation Cars LLC and David W. Miller II. The assets include vehicle builds and the trademark 'Brand New Muscle Car.' The purchase, valued at $1.5 million, will be paid in shares of ECD's common stock, calculated based on the stock's closing price five months post-closing. The transaction is subject to standard conditions and representations. The following day, ECD issued a press release detailing the acquisition, marking the company's first acquisition as a publicly traded entity. This strategic move allows ECD, known for its custom luxury builds of classic British vehicles, to enter the...Show More

On April 3, 2024, ECD Automotive Design, Inc. (ECD), a Delaware corporation, announced the signing of an Asset Purchase Agreement to acquire certain assets from BNMC Continuation Cars LLC and David W. Miller II. The assets include vehicle builds and the trademark 'Brand New Muscle Car.' The purchase, valued at $1.5 million, will be paid in shares of ECD's common stock, calculated based on the stock's closing price five months post-closing. The transaction is subject to standard conditions and representations. The following day, ECD issued a press release detailing the acquisition, marking the company's first acquisition as a publicly traded entity. This strategic move allows ECD, known for its custom luxury builds of classic British vehicles, to enter the classic American muscle car market. The acquisition aligns with ECD's vision to expand into the high-end collectible car market, tapping into a demand for unique, bespoke vehicles. ECD's CEO, Scott Wallace, expressed enthusiasm for the opportunity to design and sell custom classic Ford Mustangs and other American muscle cars. ECD, trading under the ticker ECDA on the Nasdaq, specializes in the restoration of classic Land Rovers, Range Rovers, and Jaguar E-Types, with each vehicle being a unique creation designed by clients and hand-built by certified craftsmen at their Florida facility.