UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01 Other Events.
On February 22, 2024, Getaround, Inc. (the “Company”) agreed to the terms of a settlement of the civil suit the Company filed against Broadspire Services, Inc. ("Broadspire") on March 5, 2021, Getaround, Inc. v. Broadspire Services, Inc., Case No. CGC-21-590022, and the related cross complaint filed by Broadspire against the Company on April 29, 2021, both pending in the Superior Court of California in the City and County of San Francisco. The agreement, which is subject to final documentation, provides in part for a settlement payment by Broadspire to the Company in the amount of $15 million, and the dismissal of all claims and counterclaims amongst the parties in connection with the civil suit and related cross complaint. The $15 million settlement payment, less fees for legal services to be paid to Covington & Burling LLP, counsel to the Company, and legal costs, will result in a net payment to the Company of approximately $10.5 million.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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GETAROUND, INC. |
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Date: |
February 28, 2024 |
By: |
/s/ Spencer Jackson |
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Name: Title: |
Spencer Jackson |
Document And Entity Information |
Feb. 22, 2024 |
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| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Feb. 22, 2024 |
| Entity Registrant Name | Getaround, Inc. |
| Entity Central Index Key | 0001839608 |
| Entity Emerging Growth Company | true |
| Entity File Number | 001-40152 |
| Entity Incorporation, State or Country Code | DE |
| Entity Tax Identification Number | 85-3122877 |
| Entity Address, Address Line One | 55 Green Street |
| Entity Address, City or Town | San Francisco |
| Entity Address, State or Province | CA |
| Entity Address, Postal Zip Code | 94111 |
| City Area Code | 415 |
| Local Phone Number | 295-5725 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Entity Ex Transition Period | false |
| Title of 12(b) Security | Common Stock, par value $0.0001 per share |
| Trading Symbol | GETR |
| Security Exchange Name | NYSE |