SCHEDULE 13D/A: ECD Automotive Design Founder Discloses 15% Stake Post-Merger

Thomas Ashley Humble and his revocable trust have disclosed a beneficial ownership of 15.021% in ECD Automotive Design, Inc. following the December 2023 business combination.

Summary

• Thomas Ashley Humble and The Thomas A. Humble Revocable Trust, Dated June 27, 2018, are jointly filing this Schedule 13D/A.
• The Reporting Persons beneficially own an aggregate of 5,280,000 shares of ECD Automotive Design, Inc. Common Stock.
• This ownership represents 15.021% of the Issuer's Common Stock.
• The shares were acquired on December 12, 2023, as part of a business combination where ECD Automotive Design, Inc. (formerly EF Hutton Acquisition Corporation I) merged with Humble Imports Inc. (d/b/a ECD Auto Design).
• The Thomas A. Humble Revocable Trust received these shares in exchange for 5,280,000 shares of common stock of Humble previously owned.
• The Reporting Persons acquired these shares for investment purposes.
• Thomas Ashley Humble serves as the Chief Experience Officer and a member of the board of directors of ECD Automotive Design, Inc.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive. While it's a standard disclosure, the significant ownership by a key executive and founder indicates strong alignment and commitment, which is generally viewed favorably by investors. There are no explicit negative disclosures.

Positives

• A significant ownership stake (15.021%) is held by Thomas Ashley Humble, a key executive (Chief Experience Officer) and board member, indicating strong alignment of interests with the company's performance.
• The shares were acquired as part of a strategic business combination, reflecting a long-term commitment to the company's future.

Risks

• The Reporting Persons may, in the future, acquire additional securities or sell all or a portion of their currently held securities, which could impact the stock price.
• Future actions regarding their investment will depend on various factors including the Issuer's financial position, investment strategy, stock price levels, market conditions, and general economic/industry conditions.

Future Outlook

The Reporting Persons intend to continuously review their investment in ECD Automotive Design, Inc. and may take various actions, including purchasing or selling shares, engaging with management and the board, or proposing changes to capitalization, ownership, or board structure, depending on market conditions and the company's performance.

Management Comments

• "The Reporting Persons acquired the shares reported herein for investment purposes."
• "The Reporting Persons intend to review their investment in the Issuer on a continuing basis."
• "Thomas Ashley Humble serves as Chief Experience Officer and a member of the board of directors of the Issuer, and, in such capacity, may have influence over the corporate activities of the Issuer."

Industry Context

This filing is a standard disclosure following a significant corporate event (business combination) where a key insider and founder retains a substantial ownership stake. It provides transparency regarding the beneficial ownership structure post-merger, which is common practice in the automotive design and restoration industry, particularly for companies that have recently gone public via SPAC mergers.

Related Party Transactions

• The acquisition of shares by The Thomas A. Humble Revocable Trust was a result of the business combination between ECD Automotive Design, Inc. (formerly EF Hutton Acquisition Corporation I) and Humble Imports Inc. (d/b/a ECD Auto Design), where the Trust exchanged its shares in Humble for shares in the Issuer. This transaction involved entities related to Thomas Ashley Humble.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant beneficial owner's stake and intentions, which can influence investor confidence and potential future stock price movements.
• Management/Board: The Reporting Persons, particularly Thomas Ashley Humble as a board member and CXO, may influence corporate activities and strategic decisions.

Next Steps

• The Reporting Persons will continue to review their investment in the Issuer.
• Potential future actions include acquiring additional securities, selling existing holdings, engaging in communications with management and the Board, discussing with other stockholders, or making recommendations regarding the Issuer's capitalization, ownership, board structure, or business combinations.

Key Dates

Keywords

ECD Automotive Design, Thomas Ashley Humble, Schedule 13D, Beneficial Ownership, Common Stock, Business Combination, Merger, Investment, Corporate Governance