SPAC EF Hutton I to merge with classic car electrifier ECD Auto Design

SPAC EF Hutton Acquisition I (NASDAQ:EFHT) has agreed to merge with Humble Imports, which does business under the name ECD Auto Design, a restorer, modifier and electrifier of classic British vehicles.

The deal values ECD at $225M, with shares exected to trade on Nasdaq. The combined company will be called ECD Automotive Design. 

ECD specializes in the restoration and modification, including electrification, of classic Jaguars, Land Rovers and Range Rovers. The company is based in Kissimmee, Florida. 

EF Hutton Acquisition went public in September 2022, raising $115M.