ECD Automotive Design (ECDA) Regains Nasdaq Compliancee

ECD Automotive Design, Inc. (Nasdaq: ECDA) announced today that it received a letter from The Nasdaq Stock Market ("Nasdaq") stating that Nasdaq has approved ECD’s application to list its shares of common stock for trading on the Nasdaq Capital Market effective September 13, 2024.

As previously disclosed on February 14, 2024, ECD received a notice from Nasdaq stating that ECD’s listed securities failed to comply with the $50,000,000 market value of listed securities (“MVLS”) requirement for continued listing on The Nasdaq Global Market in accordance with Nasdaq Listing Rule 5450(b)(2)(A) (the “Rule”). ECD was provided a period of 180 calendar days, or until August 12, 2024, in which to regain compliance. To regain compliance ECD submitted an application to Nasdaq to transfer its listing from The Nasdaq Global Market to The Nasdaq Capital Market, which only has a $35,000,000 MVLS requirement.

On August 13, 2024, ECD received a delisting notice from Nasdaq stating that ECD had not regained compliance with the Rule. ECD requested an appeal of the delisting determination before the Nasdaq Hearings Panel (the “Panel”) which stayed any suspension or delisting of ECD’s securities pending the hearing before the Panel that was scheduled for September 26, 2024. On September 11, 2024, ECD received a notice that Nasdaq approved ECD’s application to list its securities on The Nasdaq Capital Market. Accordingly, at the opening of business on September 13, 2024, ECD securities commenced trading on The Nasdaq Capital Market and the August 13, 2024 delisting notice is withdrawn as moot.

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