EF Hutton Acquisition Corporation I Signs Definitive Securities Purchase Agreement in Connection With Planned Business Combination With Humble Imports, Inc d/b/a ECD Auto Design
NEW YORK, NY, Oct. 10, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – EF Hutton Acquisition Corporation I (the “Company”) (NASDAQ:EFHT), a special purpose acquisition company formed by affiliates of EF Hutton, division of Benchmark Investments, LLC, a leading middle market investment bank, announced today that on October 6, 2023 it entered into a definitive securities purchase agreement (the “SPA”) with an institutional investor (the “Lender”) for the issuance of a senior secured convertible note (the “Note”) in the principal amount of $15,819,209. The Note will be issued in connection with the closing of the Company’s proposed business combination (the “Business Combination”) with Humble Imports, Inc. d/b/a ECD Auto Design (“ECD Auto”), a leading manufacturer of restored and modified Land Rover Defenders.