Adaptimmune stock plunges after announcing Nasdaq delisting plans
KISSIMMEE, Fla. - ECD Automotive Design, Inc. (NASDAQ:ECDA), a restoration company specializing in custom luxury vehicles, announced Friday it will implement a 1-for-40 reverse stock split effective September 18, 2025. The announcement comes as the company’s stock has declined nearly 90% over the past year, according to InvestingPro data.
The company’s common stock will continue trading on the Nasdaq Capital Market under the same ECDA symbol but with a new CUSIP number 27877D104 when markets open on September 18.
The reverse split, approved by stockholders at the company’s annual meeting on July 22, aims to increase the per share trading price to meet Nasdaq’s $1.00 minimum bid price requirement for continued listing.
As a result of the split, every forty pre-split shares will be combined into one share, reducing ECD’s outstanding common shares from approximately 59,091,136 to 1,477,278. The authorized share count and par value will remain unchanged.
Proportional adjustments will be made to outstanding stock options and restricted stock units, including their exercise prices. Shareholders with electronic book-entry shares need not take action, while those holding certificates will receive instructions from Continental Stock Transfer and Trust, the company’s transfer agent.
No fractional shares will be issued, with fractional shares rounded up to the nearest whole share.
ECD Automotive Design specializes in restoring vehicles including Land Rover Defenders, Range Rover Classics, Jaguar E-Types, Ford Mustangs, and Toyota FJs. The company operates from a 100,000-square-foot facility in Kissimmee, Florida with 102 staff members. Despite generating annual revenue of $25.2 million, the company faces significant debt obligations and cash flow challenges, as revealed in detailed analysis available through InvestingPro’s comprehensive research reports.
The information in this article is based on a company press release statement.
In other recent news, ECD Automotive Design reported its Q2 2025 earnings, showcasing a record revenue of $7 million, which marks a $500,000 increase from the same quarter last year. Despite this revenue growth, the company experienced a notable net loss of $4.3 million, which widened from a $2 million loss in Q2 2024. Additionally, ECD Automotive Design disclosed that it received a notice from the Nasdaq Stock Market regarding a potential delisting of its securities. The notice indicated that the company had not regained compliance with the minimum market value requirement of $35 million, as per Nasdaq Listing Rule 5550(b)(2). The company had previously been granted 180 days to meet this standard, which ended on August 25, after it fell below the threshold for 30 consecutive trading days. These developments have been reported in filings with the Securities and Exchange Commission.
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