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Getaround, Inc. (GETR) has provided an announcement.
Getaround, Inc. has modified its financing agreement with Mudrick Capital Management, increasing the aggregate principal amount to over $83 million, which includes additional capital of $20 million for the company. The interest rate on this senior secured note is 15% per annum, with a potential increase upon default, and is set to mature on August 7, 2026. In corporate moves, Patricia Huerta has been appointed as Getaround’s Interim CFO, bringing a wealth of financial expertise from previous senior roles. This strategic financial restructuring and executive appointment aim to strengthen Getaround’s financial position and leadership team.
For a thorough assessment of GETR stock, go to TipRanks’ Stock Analysis page.