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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 2, 2024

 

Harbor Custom Development, Inc.

(Exact name of registrant as specified in its charter)

 

Washington   001-39266   46-4827436

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

1201 Pacific Avenue, Suite 1200

Tacoma, WA 98402

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code (253) 649-0636

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol(s)   Name of Each Exchange on Which Registered
Common Stock   HCDI*   The Nasdaq Stock Market LLC*
8% Series A Cumulative Convertible Preferred Stock   HCDIP*   The Nasdaq Stock Market LLC*
Warrants   HCDIW*   The Nasdaq Stock Market LLC*
Warrants   HCDIZ*   The Nasdaq Stock Market LLC*

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

* The Company’s securities are currently traded on OTC Pink Current Information (OTC PK: HCDIQ; HCDPQ; HCDWQ; HCDZQ). However, as of the date of this filing, a Form 25-NSE to remove the Company’s securities from being listed on The Nasdaq Stock Market LLC has not yet been filed with the Commission.

 

 

 

 

 

 

Item 8.01. Other Events

 

As previously reported, on December 11, 2023, Harbor Custom Development, Inc. and certain of its wholly owned subsidiaries (collectively, the “Company”), filed a voluntary petition (the “Bankruptcy Petition”) for reorganization under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Western District of Washington (such court, the “Bankruptcy Court” and such case, the “Case”). The Case is being jointly administered under the caption In re Harbor Custom Development, Inc., et al., Case No. 23-42180-MJH.

 

On February 2, 2024, the Company’s wholly owned subsidiary, Tanglewilde, LLC, also filed a Bankruptcy Petition for reorganization under Chapter 11 of the Bankruptcy Code. Tanglewilde, LLC will be added into the Company’s pending Case.

 

The other wholly owned subsidiaries of the Company that are already included in the Case as of the date of this Report are: Belfair Apartments, LLC; Pacific Ridge CMS, LLC; HCDI FL Condo LLC; HCDI Bridgeview LLC; HCDI Semiahmoo LLC; and Beacon Studio Farms LLC.

 

Additional Information on the Chapter 11 Cases

 

Court filings and information about the Case, including the Bankruptcy Petition, can be found at https://cases.creditorinfo.com/hcdi. The documents and other information available via website or elsewhere are not part of this Current Report and shall not be deemed incorporated herein.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  Harbor Custom Development, Inc.
     
Date: February 8, 2024 By: /s/ Jeff Habersetzer
    Jeff Habersetzer
    Interim Chief Executive Officer and Interim President

 

 

 

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Feb. 02, 2024
Document Type 8-K
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Document Period End Date Feb. 02, 2024
Entity File Number 001-39266
Entity Registrant Name Harbor Custom Development, Inc.
Entity Central Index Key 0001784567
Entity Tax Identification Number 46-4827436
Entity Incorporation, State or Country Code WA
Entity Address, Address Line One 1201 Pacific Avenue
Entity Address, Address Line Two Suite 1200
Entity Address, City or Town Tacoma
Entity Address, State or Province WA
Entity Address, Postal Zip Code 98402
City Area Code (253)
Local Phone Number 649-0636
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Pre-commencement Issuer Tender Offer false
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Common Stock [Member]  
Title of 12(b) Security Common Stock
Trading Symbol HCDI*
Security Exchange Name NASDAQ
Sec 8 Series Cumulative Convertible Preferred Stock [Member]  
Title of 12(b) Security 8% Series A Cumulative Convertible Preferred Stock
Trading Symbol HCDIP*
Warrants [Member]  
Title of 12(b) Security Warrants
Trading Symbol HCDIW*
Warrantsone [Member]  
Title of 12(b) Security Warrants
Trading Symbol HCDIZ*
Security Exchange Name NASDAQ
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