Mudrick Capital Management, L.P. 4

What Happened

• Mudrick Capital Management, L.P. (a 10% owner and designated filer for affiliated Mudrick funds) converted convertible notes into 100,000,000 shares of Getaround common stock on 2026-06-16. The conversion price was $0.25 per share, representing $25,000,000 of consideration. The filing also reports the corresponding disposition of the derivative instrument as part of the conversion.

Key Details

• Transaction date: 2026-06-16; Form 4 filed: 2026-06-18 (appears timely).
• Conversion: 100,000,000 shares acquired at $0.25/share = $25,000,000.
• Corresponding derivative disposition: 100,000,000 (conversion of the convertible note instrument).
• Shares owned after transaction: Affiliates managed by Mudrick report large post-conversion holdings; footnote F6 lists holdings by fund (e.g., 141,940,459 by Global LP; 163,489,467 by Drawdown II; plus other affiliated funds) — total shown in F6 equals 870,378,992 shares across the listed Mudrick-managed accounts.
• Notable footnotes: F2 — automatic adjustment set conversion price to $0.25 per share; F3 — adjustments reflect prior reverse stock split and indenture mechanics; F4 — notes mature Dec 8, 2027; F9 — reporting persons disclaim beneficial ownership beyond pecuniary interest.
• Filing structure: This is one of two Form 4s split because more than 10 reporting persons are involved; Mudrick Capital Management, L.P. is the designated filer.

Context

• This was a conversion of debt (convertible notes) into equity — not an open-market buy or sale — and is an institutional reclassification of securities rather than an executive personal trade. The conversion removed the derivative instrument and issued common stock under the convertible note terms (automatic adjustment per subscription agreement). For details on post-conversion holdings by each Mudrick-managed fund and the reporting group, see footnote F6 and F1.