: E.F. Hutton taking Rover and Jaguar EV conversion company E.C.D. public through SPAC merger

Humble Imports Inc., which does business under the name E.C.D. Auto Design, said Monday it agreed to become a publicly-traded company in a merger with EF Hutton Acquisition Corp. I EFHT that values the Land Rover and Jaguar electric vehicle conversion specialist at $225 million. EF Hutton Acquisition Corp. I is a special purpose acquisition company formed by affiliates of EF Hutton, a unit of Benchmark Investments LLC. Kissimmee, Fla.-based E.C.D. will change its name to E.C.D. Automotive Design Inc. for trading on the Nasdaq Stock Market. “The company has also been a pioneer in the electrification of classic vehicles and is well positioned to capitalize on this powerful secular trend,” E.C.D. Design said. The deal is expected to close in the third quarter. Founded in 2013, the company has delivered more than 500 vehicles. E.C.D. CEO and co-founder Scott Wallace said the company has “succeeded in creating one-of-one vehicle builds out of pure imagination, all made possible by our genuine passion for automotives.”

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