Getaround announced it received a written commitment from Mudrick Capital Managemen to provide $20 M in additional capital on or prior to July 26 pursuant to the company’s existing debt facility with Mudrick Capital. Getaround also received written notice from Mudrick Capital of its intention to convert a minimum of $10M worth of its outstanding 8.00%/9.50% Convertible Senior Secured PIK Toggle Notes due 2027 at an as-adjusted conversion price of 25c per share, within 45 days after the company’s 2024 Annual Stockholder Meeting scheduled to take place on July 31. The amendment of such conversion price to 25c per share is subject to stockholder approval at such annual meeting and required pursuant to the terms of the previously disclosed super priority promissory note between the Company and Mudrick Capital. “We are grateful for the continued vote of confidence from Mudrick Capital reflected in this additional investment and their stated intention to convert a portion of the outstanding convertible debt as we continue to make significant progress on our path to profitability,” said Eduardo Iniguez, Getaround’s Chief Executive Officer