STOCK TITAN

Mudrick group controls Getaround (GETR) and agrees to back potential wind-down

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Mudrick Capital and affiliated funds filed Amendment No. 11 to update their large position in Getaround, Inc. The group reports beneficial ownership of 933,642,288 shares of Common Stock, representing 90.6% of the class, including shares issuable upon conversion of Convertible Notes and exercise of Warrants.

Mudrick Capital Management, L.P. entered a letter agreement effective April 9, 2026 under which applicable reporting persons agreed, at the request of Getaround’s board and subject to certain conditions, to convert a portion of their Convertible Notes to support an orderly wind-down of the company under Section 275 of the Delaware General Corporation Law, and they state they intend to vote in favor of such a wind-down if requested.

Positive

  • None.

Negative

  • Majority control linked to potential wind-down: Mudrick-related entities report 90.6% beneficial ownership of Getaround’s common stock and have agreed, if requested by the board and subject to conditions, to convert a portion of their Convertible Notes to support an orderly wind-down under Delaware law, a materially adverse scenario for equity holders.

Insights

Mudrick now controls 90.6% of Getaround and has agreed to support a potential orderly wind-down.

Mudrick Capital Management and related funds disclose beneficial ownership of 933,642,288 Getaround shares, or 90.6% of the class. This total includes large positions in Convertible Notes and Warrants that can become common stock, giving the group effective control.

A letter agreement effective April 9, 2026 states that, if Getaround’s board requests it and conditions are met, applicable Mudrick entities will convert a portion of their Convertible Notes to support an orderly wind-down under Section 275 of Delaware corporate law. They also state they intend to vote in favor of such a wind-down if asked.

This combination of majority beneficial ownership and an agreement tied to a potential wind-down is a materially adverse development for common shareholders, because it links a dominant stakeholder’s debt position to a possible corporate wind-down scenario, although actual outcomes depend on future board decisions.

Beneficial ownership 933,642,288 shares Mudrick group aggregate beneficial ownership of Getaround common stock
Ownership percentage 90.6% Percent of Getaround common stock class beneficially owned by Mudrick group
Base shares outstanding 1,030,573,813 shares Shares outstanding used to compute 90.6% beneficial ownership, including issuable shares
Convertible Notes component 926,376,132 shares Common shares issuable upon conversion of Convertible Notes held by reporting persons
Warrants component 7,000,000 shares Common shares issuable upon exercise of Warrants held by reporting persons
Outstanding common stock 97,197,681 shares Common shares outstanding as of November 12, 2024, from Getaround’s Form 10-Q
Largest single-fund holding 232,781,054 shares Beneficially owned by Mudrick Distressed Opportunity Fund Global, L.P.
Wind-down reference Section 275 Orderly wind-down of Getaround under Delaware General Corporation Law mentioned in letter agreement
Convertible Notes financial
"shares of Common Stock issuable upon the conversion of Convertible Notes"
Convertible notes are a type of short-term loan that a company receives from investors, which can later be turned into company shares instead of being paid back in cash. They matter to investors because they offer a way to support a company early on while giving the potential to own a stake in its success if the company grows and later raises more funding.
Warrants financial
"shares of Common Stock issuable upon the exercise of Warrants"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
beneficially owned financial
"shares of Common Stock issuable upon the conversion of Convertible Notes in the aggregate beneficially owned by the Reporting Persons"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Section 275 of Delaware General Corporation Law regulatory
"orderly wind-down of the Issuer in accordance with ss. 275 of Delaware General Corporation Law"
orderly wind-down financial
"convert a portion of the Convertible Notes to support the orderly wind-down of the Issuer"
Schedule 13D regulatory
"this Amendment No. 11 amends the statement on (as amended from time to time, the "")"
A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.





37427G101

(CUSIP Number)
Jason Mudrick
Mudrick Capital Management, L.P., 527 Madison Avenue, 6th Floor
New York, NY, 10022
(646) 747-9500

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
04/09/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 include (i) 266,156 shares of Common Stock, (ii) 926,376,132 shares of Common Stock issuable upon conversion of Convertible Notes, and (iii) 7,000,000 shares of Common Stock issuable upon the exercise of Warrants, in each case, directly held by Mudrick Distressed Opportunity Fund Global, L.P., Mudrick Distressed Opportunity Drawdown Fund II, L.P., Mudrick Distressed Opportunity Drawdown Fund II SC, L.P., Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P., Mudrick Distressed Opportunity SIF Master Fund, L.P., Mudrick Stressed Credit Master Fund, L.P., Mudrick Opportunity Co-Investment Fund, L.P., and certain accounts managed by Mudrick Capital Management, L.P., in the aggregate. Row 13 is based on 1,030,573,813 shares of Common Stock outstanding, which includes (i) 97,197,681 shares of Common Stock outstanding as of November 12, 2024, as reported by the Issuer in the Quarterly Report on Form 10-Q for the quarter ending September 30, 2024, filed with the Securities and Exchange Commission on November 14, 2024 (the "Outstanding Shares"), (ii) 926,376,132 shares of Common Stock issuable upon the conversion of Convertible Notes in the aggregate beneficially owned by the Reporting Persons, and (iii) 7,000,000 shares of Common Stock issuable upon the exercise of Warrants beneficially owned by the Reporting Persons.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 include (i) 266,156 shares of Common Stock, (ii) 926,376,132 shares of Common Stock issuable upon conversion of Convertible Notes, and (iii) 7,000,000 shares of Common Stock issuable upon the exercise of Warrants, in each case, directly held by Mudrick Distressed Opportunity Fund Global, L.P., Mudrick Distressed Opportunity Drawdown Fund II, L.P., Mudrick Distressed Opportunity Drawdown Fund II SC, L.P., Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P., Mudrick Distressed Opportunity SIF Master Fund, L.P., Mudrick Stressed Credit Master Fund, L.P., Mudrick Opportunity Co-Investment Fund, L.P., and certain accounts managed by Mudrick Capital Management, L.P., in the aggregate. Row 13 is based on 1,030,573,813 shares of Common Stock outstanding, which includes (i) 97,197,681 shares of Common Stock outstanding as of November 12, 2024, as reported by the Issuer in the Quarterly Report on Form 10-Q for the quarter ending September 30, 2024, filed with the Securities and Exchange Commission on November 14, 2024 (the "Outstanding Shares"), (ii) 926,376,132 shares of Common Stock issuable upon the conversion of Convertible Notes in the aggregate beneficially owned by the Reporting Persons, and (iii) 7,000,000 shares of Common Stock issuable upon the exercise of Warrants beneficially owned by the Reporting Persons.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 include (i) 266,156 shares of Common Stock, (ii) 926,376,132 shares of Common Stock issuable upon conversion of Convertible Notes, and (iii) 7,000,000 shares of Common Stock issuable upon the exercise of Warrants, in each case, directly held by Mudrick Distressed Opportunity Fund Global, L.P., Mudrick Distressed Opportunity Drawdown Fund II, L.P., Mudrick Distressed Opportunity Drawdown Fund II SC, L.P., Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P., Mudrick Distressed Opportunity SIF Master Fund, L.P., Mudrick Stressed Credit Master Fund, L.P., Mudrick Opportunity Co-Investment Fund, L.P., and certain accounts managed by Mudrick Capital Management, L.P., in the aggregate. Row 13 is based on 1,030,573,813 shares of Common Stock outstanding, which includes (i) 97,197,681 shares of Common Stock outstanding as of November 12, 2024, as reported by the Issuer in the Quarterly Report on Form 10-Q for the quarter ending September 30, 2024, filed with the Securities and Exchange Commission on November 14, 2024 (the "Outstanding Shares"), (ii) 926,376,132 shares of Common Stock issuable upon the conversion of Convertible Notes in the aggregate beneficially owned by the Reporting Persons, and (iii) 7,000,000 shares of Common Stock issuable upon the exercise of Warrants beneficially owned by the Reporting Persons.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 include (i) 66,362 shares of Common Stock, (ii) 230,969,412 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 1,745,280 shares of Common Stock issuable upon the exercise of Warrants. Row 13 is based on 329,912,373 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 230,969,412 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 1,745,280 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 reflects beneficial ownership as the general partner of Mudrick Distressed Opportunity Fund Global, L.P. Row 13 is based on 329,912,373 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 230,969,412 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 1,745,280 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 include (i) 44,842 shares of Common Stock, (ii) 156,075,864 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 1,179,360 shares of Common Stock issuable upon the exercise of Warrants. Row 13 is based on 254,452,905 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 156,075,864 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 1,179,360 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 include (i) 4,386 shares of Common Stock, (ii) 15,266,668 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 115,360 shares of Common Stock issuable upon the exercise of Warrants. Row 13 is based on 112,579,709 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 15,266,668 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 115,360 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 reflects beneficial ownership as the general partner of Mudrick Distressed Opportunity Drawdown Fund II, L.P. and Mudrick Distressed Opportunity Drawdown Fund II SC, L.P. Row 13 is based on 269,834,933 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 171,342,532 shares of Common Stock issuable upon the conversion of Convertible Notes directly held by Mudrick Distressed Opportunity Drawdown Fund II, L.P. and Mudrick Distressed Opportunity Drawdown Fund II SC, L.P., and (iii) 1,294,720 shares of Common Stock issuable upon the exercise of Warrants directly held by Mudrick Distressed Opportunity Drawdown Fund II, L.P. and Mudrick Distressed Opportunity Drawdown Fund II SC, L.P.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 include ) 11,259 shares of Common Stock, (ii) 39,188,356 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 296,120 shares of Common Stock issuable upon the exercise of Warrants. Row 13 is based on 136,682,157 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 39,188,356 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 296,120 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 reflect beneficial ownership as the general partner of Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P. Row 13 is based on 136,682,157 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 39,188,356 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 296,120 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 include (i) 9,280 shares of Common Stock, (ii) 32,301,408 shares of Common Stock issuable upon the conversion of Convertible Notes, and (ii) 244,080 shares of Common Stock issuable upon the exercise of Warrants. Row 13, is based on 129,743,169 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 32,301,408 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 244,080 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 Reflects beneficial ownership as the general partner of Mudrick Distressed Opportunity SIF Master Fund, L.P. Row 13, is based on 129,743,169 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 32,301,408 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 244,080 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 include (i) 24,077 shares of Common Stock, (ii) 83,802,624 shares of Common Stock issuable upon the conversion of Convertible Notes, and (ii) 633,240 shares of Common Stock issuable upon the exercise of Warrants. Row 13 is based on 181,633,545 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 83,802,624 shares of Common Stock issuable upon the conversion of Convertible Notes, and (ii) 633,240 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 Reflects beneficial ownership as the general partner of Mudrick Stressed Credit Master Fund, L.P. Row 13 is based on 181,633,545 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 83,802,624 shares of Common Stock issuable upon the conversion of Convertible Notes, and (ii) 633,240 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 include (i) 7,604 shares of Common Stock, (ii) 26,467,880 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 200,000 shares of Common Stock issuable upon the exercise of Warrants. Row 13 is based on 123,865,561 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 26,467,880 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 200,000 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D




Comment for Type of Reporting Person:
Rows 8, 10 and 11 reflects beneficial ownership as the general partner of Mudrick Opportunity Co-Investment Fund, L.P. Row 13 is based on 123,865,561 shares of Common Stock outstanding, which includes (i) the Outstanding Shares, (ii) 26,467,880 shares of Common Stock issuable upon the conversion of Convertible Notes, and (iii) 200,000 shares of Common Stock issuable upon the exercise of Warrants.


SCHEDULE 13D


Mudrick Capital Management, L.P.
Signature:By: Mudrick Capital Management, LLC its general partner, /s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Capital Management, LLC
Signature:/s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Jason Mudrick
Signature:/s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Distressed Opportunity Fund Global, L.P.
Signature:By: Mudrick GP, LLC, /s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick GP, LLC
Signature:/s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Distressed Opportunity Drawdown Fund II, L.P.
Signature:By: Mudrick Distressed Opportunity Drawdown Fund II GP, LLC, its general partner, /s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Distressed Opportunity Drawdown Fund II SC, L.P.
Signature:By: Mudrick Distressed Opportunity Drawdown Fund II GP, LLC, its general partner, /s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Distressed Opportunity Drawdown Fund II GP, LLC
Signature:/s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P.
Signature:By: Mudrick Distressed Opportunity 2020 Dislocation Fund GP, LLC, its general partner, /s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Distressed Opportunity 2020 Dislocation Fund GP, LLC
Signature:/s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Distressed Opportunity SIF Master Fund, L.P.
Signature:By: Mudrick Distressed Opportunity SIF Master Fund LLC, its general partner, /s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Distressed Opportunity SIF GP, LLC
Signature:/s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Stressed Credit Master Fund, L.P.
Signature:By: Mudrick Stressed Credit Fund GP, LLC, its general partner, /s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Stressed Credit Fund GP, LLC
Signature:/s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Opportunity Co-Investment Fund, L.P.
Signature:By: Mudrick Opportunity Co-Investment Fund GP, LLC, its general partner, /s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026
Mudrick Opportunity Co-Investment Fund GP, LLC
Signature:/s/ Jason Mudrick
Name/Title:Jason Mudrick, Sole Member
Date:04/14/2026

FAQ

What stake in Getaround (GETR) does Mudrick Capital now report?

Mudrick Capital and affiliated funds report beneficial ownership of 933,642,288 Getaround common shares, representing 90.6% of the class. This figure includes existing common shares plus shares issuable from Convertible Notes and Warrants held by the reporting persons.

How is Mudrick’s 933,642,288-share Getaround position composed?

The 933,642,288-share beneficial stake includes 266,156 common shares, 926,376,132 shares issuable upon conversion of Convertible Notes, and 7,000,000 shares issuable upon exercise of Warrants, all held across various Mudrick-managed funds and accounts, according to the filing’s cover-page comments.

What does the new letter agreement between Mudrick Capital and Getaround say?

Mudrick Capital Management, L.P. entered a letter agreement effective April 9, 2026 with Getaround and certain subsidiaries. Under it, applicable Mudrick reporting persons agreed, if the board requests and conditions are satisfied, to convert a portion of Convertible Notes to support an orderly wind-down.

Does Mudrick intend to support a wind-down of Getaround (GETR)?

The filing states that, if Getaround’s board requests an orderly wind-down under Section 275 of the Delaware General Corporation Law, the applicable Mudrick reporting persons intend to vote in favor of such a wind-down, consistent with the terms of the April 9, 2026 letter agreement.

How many Getaround shares are outstanding in Mudrick’s 90.6% calculation?

Mudrick’s 90.6% beneficial ownership is based on 1,030,573,813 shares of common stock outstanding. This total combines 97,197,681 shares outstanding as of November 12, 2024 with shares issuable upon conversion of their Convertible Notes and exercise of Warrants.

Which Mudrick fund holds the largest individual Getaround position?

The filing shows Mudrick Distressed Opportunity Fund Global, L.P. beneficially owning 232,781,054 shares, or 70.6% of its calculated outstanding base. This includes common shares plus shares issuable upon conversion of Convertible Notes and exercise of Warrants held by that fund.