---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-047813"
form_type: "8-K/A"
ticker: null
cik: "0001839608"
company_name: "Getaround, Inc"
filed_at: "2023-09-13T23:59:59+00:00"
generated_at: "2026-06-10T19:21:33.213361+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Getaround corrects interest rate to 15% on $15M super-priority note to Mudrick Capital

## Summary
- Note principal $15,050,685, matures Aug 7, 2024; interest corrected from 8% to 15% per annum.
- Mandatory prepayment via (a) 50% of equity/debt proceeds before Jan 31, 2024, then 100%; (b) 100% of asset sale proceeds; first $10M exempt.
- Covenant requires seeking junior debt/equity or sale of company by Oct 27, 2023, with binding term sheet.
- If note not repaid by Jan 31, 2024, conversion rate on existing Convertible Notes adjusts to 4,000 shares per $1,000 principal.
- Special stockholder meeting to approve conversion-rate adjustments targeted by Jan 31, 2024; management bonus of 20% of enterprise value above $225M in a sale.

## SEC filing metadata
- accession: 0000950170-23-047813
- form_type: 8-K/A
- cik: 0001839608
- company_name: Getaround, Inc
- filed_at: 2023-09-13T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1839608/000095017023047813/0000950170-23-047813-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1839608/000095017023047813/getr-20230908.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-047813
- JSON: https://secwatch.observer/filing/0000950170-23-047813.json
- Plain text: https://secwatch.observer/filing/0000950170-23-047813.txt

## Key facts
- Debt Financings
  Getaround, Inc incurred senior notes of $15,050,685 with Mudrick Capital Management L.P. at 15.00% per annum maturing August 7, 2024.
  - Instrument: senior notes
  - Principal: $15,050,685
  - Counterparty: Mudrick Capital Management L.P.
  - Rate: 15.00% per annum
  - Maturity: August 7, 2024
  - Event: incurrence
  source text: the Company issued and sold to Mudrick Capital Management L.P. on behalf of certain funds, investors, entities or accounts that are managed, sponsored or advised by Mudrick Capital Management L.P. or its affiliates (the “Purchaser”), a super priority note in an aggregate amount of $15,050,685 (the “Note”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839608/000095017023047813/0000950170-23-047813-index.htm
- Material Agreements
  Getaround, Inc entered into Subscription Agreement and Super Priority Note with Mudrick Capital Management L.P. valued at $15,050,685 principal amount, 15.00% per annum interest (effective 2023-09-08).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Mudrick Capital Management L.P.
  - Value: $15,050,685 principal amount, 15.00% per annum interest
  - Effective: 2023-09-08
  source text: On September 8, 2023, the Company issued and sold to Mudrick Capital Management L.P. on behalf of certain funds, investors, entities or accounts that are managed, sponsored or advised by Mudrick Capital Management L.P. or its affiliates (the “Purchaser”), a super priority note in an aggregate amount of $15,050,685 (the “Note”) pursuant to a subscription agreement dated September 8, 2023 (the “Subscription Agreement”), by and between the Purchaser and the Company, and the form of global note attached thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1839608/000095017023047813/0000950170-23-047813-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.