ECD Automotive Design granted continued listing by Nasdaq Hearings Panel

ECD Automotive Design (ECDA) announced that the Nasdaq Hearings Panel granted the request of ECD to continue its listing on The Nasdaq Stock Market. ECD’s continued listing on Nasdaq is subject to the following conditions: On or before October 1, 2025, the Company shall demonstrate compliance with the minimum bid price under Nasdaq Listing Rule 550(a)(2) by have a closing bid price of $1.00 or more for ten consecutive trading days; On or before January 7, 2026, the Company shall demonstrate compliance with the equity standard under Nasdaq Listing Rule 5550(b) by having stockholder equity of at least $2.5 million. The Company expects to comply with both the minimum bid price requirement and the equity standard requirement within the time periods mandated by the Panel. On September 18, 2025, to address the $1.00 minimum bid price requirement, the Company implemented a 1-for-40 reverse stock split of its issued and outstanding common stock. To address the equity standard, in June of 2025, the Company executed a $500 million equity line of credit, and a lender recently converted $15.5 million in debt to preferred equity and purchased an additional $1.1 million of preferred stock.