Harbor Custom Development, Inc. filed a first amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on May 23, 2024. As per the plan filed, secured claim of Mandalay Income Fund, I, LP.? HCDI CA Properties, Convenience Claims ?

HCDI have been excluded from the plan. Warrant Interests ? HCDI shall be cancelled and shall not receive any distribution under the plan.

Secured claim of BankUnited ? HCDI of $14.35 million shall receive $1 million in full satisfaction of the claim. There is no change in the treatment of any other claim class or sources of plan funding.