Summary by Moomoo AI
On January 19, 2024, Getaround, Inc. and Mudrick Capital Management L.P. (MCM) amended and restated a super priority note, increasing its principal amount to $23,941,032.31 to provide additional funding to Getaround. This amendment followed the original note issued on January 12, 2024. Concurrently, Jason Mudrick of MCM was elected to Getaround's board of directors. The amended note accrues interest at 15% per annum, maturing on August 7, 2026, with provisions for earlier redemption. It is guaranteed by certain Getaround subsidiaries and secured by substantially all of their assets. The agreement also stipulates that upon certain conditions, the board will include two independent directors identified by the reporting persons. This amendment is part of a series of filings with the SEC, including previous amendments filed throughout 2023. The...Show More