--- schema_version: "secwatch.filing_event.v1" accession: "0000950170-24-006731" form_type: "8-K" ticker: null cik: "0001839608" company_name: "Getaround, Inc" filed_at: "2024-01-24T23:59:59+00:00" generated_at: "2026-06-06T19:26:27.126029+00:00" event_type: "debt" sentiment: "positive" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Getaround secures up to $20M debt from Mudrick Capital; Q3 revenue +42% YoY, board changes ## Summary - Debt facility of up to $20M; first $5M drawn at 15% interest, matures Aug 2026. - Q3 2023 revenue +42% YoY; trip contribution margin 52% (+640 bps). - Jason Mudrick appointed to board; Ahmed Fattouh resigned. - New unified global app launched Jan 17, integrating US and Europe platforms. - Note is senior secured, can be increased by additional $15M under conditions. ## SEC filing metadata - accession: 0000950170-24-006731 - form_type: 8-K - cik: 0001839608 - company_name: Getaround, Inc - filed_at: 2024-01-24T23:59:59+00:00 - event_type: debt - sentiment: positive - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 2.03, 5.02, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1839608/000095017024006731/0000950170-24-006731-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1839608/000095017024006731/getr-20240112.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000950170-24-006731 - JSON: https://secwatch.observer/filing/0000950170-24-006731.json - Plain text: https://secwatch.observer/filing/0000950170-24-006731.txt ## Key facts - Debt Financings Getaround, Inc amended senior notes of $20,880,922.00 with Mudrick Capital Management L.P. at 15.00% per annum maturing August 7, 2026. - Instrument: senior notes - Principal: $20,880,922.00 - Counterparty: Mudrick Capital Management L.P. - Rate: 15.00% per annum - Maturity: August 7, 2026 - Event: amendment source text: On January 12, 2024, Getaround, Inc. (the “Company”) and 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”), amended and restated the amended and restated super priority secured promissory note in an aggregate amount of $18,635,499.51 entered into by such parties on December 11, 2023 (as amended and restated and as further amended and restated, supplemented or otherwise modified from time to time, the "Note") to reflect an increased aggregate principal amount of $20,880,922.00, which is comprised of the original $18,635,499.51 principal amount under the Note, $245,422.49 in accrued interest on the Note as of January 12, 2024, and an additional principal amount of $2,000,000 to provide additional capital to the Company (the “Second A&R Note”). evidence_url: https://www.sec.gov/Archives/edgar/data/1839608/000095017024006731/0000950170-24-006731-index.htm - Debt Financings Getaround, Inc amended senior notes of $23,941,032.31 with Mudrick Capital Management L.P. at 15.00% per annum maturing August 7, 2026. - Instrument: senior notes - Principal: $23,941,032.31 - Counterparty: Mudrick Capital Management L.P. - Rate: 15.00% per annum - Maturity: August 7, 2026 - Event: amendment source text: On January 19, 2024 the Company and the Purchaser further amended and restated the Note to reflect an increased aggregate principal amount of $23,941,032.31, which is comprised of the original $20,880,922.00 principal amount under the Second A&R Note, $60,110.3 in accrued interest on the Note as of January 19, 2024, and an additional principal amount of $3,000,000 to provide additional capital to the Company (the “Third A&R Note”). evidence_url: https://www.sec.gov/Archives/edgar/data/1839608/000095017024006731/0000950170-24-006731-index.htm - Executive change Jason Mudrick was appointed as Director at Getaround, Inc. - Action: appointed - Role: Director source text: On January 19, 2024, the Board appointed Jason Mudrick to serve as a member of the Board as a Class III director in accordance with the terms of the A&R Incremental Subscription Agreement. evidence_url: https://www.sec.gov/Archives/edgar/data/1839608/000095017024006731/0000950170-24-006731-index.htm - Executive change Dr. Jeffrey Russakow was appointed as Director at Getaround, Inc. - Action: resigned as Class III director and immediately re-appointed as Class I director - Role: Director source text: In connection with Mr. Mudrick’s appointment, on January 19, 2024, Dr. Jeffrey Russakow resigned as a Class III director and was immediately re-appointed as a Class I director. evidence_url: https://www.sec.gov/Archives/edgar/data/1839608/000095017024006731/0000950170-24-006731-index.htm - Executive change Ahmed Fattouh resigned as Director at Getaround, Inc. - Action: resigned - Role: Director source text: Also on January 19, 2024, Ahmed Fattouh, a member of the Board, resigned from the Board, including all committees thereof, effective immediately. evidence_url: https://www.sec.gov/Archives/edgar/data/1839608/000095017024006731/0000950170-24-006731-index.htm - Material Agreements Getaround, Inc amended Amended and Restated Super Priority Secured Promissory Note with Mudrick Capital Management L.P. valued at $23,941,032.31 aggregate principal amount; 15.00% per annum interest rate (effective 2024-01-19). - Action: amendment - Agreement: credit facility - Counterparty: Mudrick Capital Management L.P. - Value: $23,941,032.31 aggregate principal amount; 15.00% per annum interest rate - Effective: 2024-01-19 source text: On January 19, 2024 the Company and the Purchaser further amended and restated the Note to reflect an increased aggregate principal amount of $23,941,032.31, which is comprised of the original $20,880,922.00 principal amount under the Second A&R Note, $60,110.3 in accrued interest on the Note as of January 19, 2024, and an additional principal amount of $3,000,000 to provide additional capital to the Company (the “Third A&R Note”). evidence_url: https://www.sec.gov/Archives/edgar/data/1839608/000095017024006731/0000950170-24-006731-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.