06/09/2026 | Press release | Distributed by Public on 06/09/2026 15:17
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Filed by the Registrant ☒
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Filed by a Party other than the Registrant ☐
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Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material under §240.14a-12
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No fee required.
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Fee paid previously with preliminary materials.
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Fee computed on table required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11.
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Date and Time:
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[ ], [ ], 2026, at [ ] a.m., Eastern Time.
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Place:
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Via live webcast on the internet at www.virtualshareholdermeeting.com/GETR2026SM.
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To be deemed present in person and vote at the Special Meeting, you will need the 16-digit control number included on your proxy card or on any additional voting instructions that accompanied your proxy materials.
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Items of Business:
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1.
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To consider and vote upon a proposal to authorize and approve the dissolution (the "Dissolution") of Getaround, Inc. (the "Company") in accordance with Section 275 et seq. of the Delaware General Corporation Law (the "DGCL") and authorize, adopt and approve the Plan of Liquidation and Distribution (as it may be amended, modified or abandoned from time to time by the Board of Directors of the Company (the "Board") at any time and without further action by the stockholders, and including the transactions contemplated thereby, the "Plan of Distribution"), which, if approved, will authorize the Board to liquidate the Company in accordance with the terms thereof (the "Dissolution Proposal").
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2.
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To approve the adjournment of the Special Meeting, from time to time, if deemed necessary or advisable by the Board or a committee thereof, including to solicit additional proxies if a quorum is not present or there are not sufficient votes at the time of the Special Meeting to approve the Dissolution Proposal (the "Adjournment Proposal").
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These items of business are more fully described in the Proxy Statement accompanying this Notice.
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Record Date:
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Only stockholders of record at the close of business on [ ], 2026 (the "Record Date"), are entitled to notice of, and to vote at, the Special Meeting and any adjournments thereof.
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Proxy Voting:
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Each share of common stock that you own represents one vote.
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For questions regarding your stock ownership, you may contact our transfer agent, Continental Stock Transfer & Trust Company, through its website at www.continentalstock.com or by phone at (800) 509-5586.
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We will make available an electronic list of stockholders of record as of the Record Date for inspection by stockholders for the ten (10) days prior to the meeting. To access the electronic list during this period, please send your request, along with proof of share ownership, by email to [ ]. You will receive confirmation of your request and instructions on how to view the electronic list. The list will also be available to stockholders at www.virtualshareholdermeeting.com/GETR2026SM during the live webcast of the Special Meeting.
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For the avoidance of doubt, this notice serves as notice of the Board's adoption of certain resolutions which, among other things, declare advisable and in the best interests of the Company and its residual claimants, and approve, the Dissolution and the Plan of Distribution and recommend the approval and adoption thereof by the stockholders of the Company in accordance with Section 275(a) of the DGCL.
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By Order of the Board of Directors,
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Mauricio Rivera
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Senior Vice President and Chief Restructuring Officer
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Date and Time:
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[ ], [ ], 2026, at [ ] a.m., Eastern Time.
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Place:
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Via live webcast on the internet at www.virtualshareholdermeeting.com/GETR2026SM.
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To be deemed present in person and vote at the Special Meeting, you will need the 16-digit control number included on your proxy card or on any additional voting instructions that accompanied your proxy materials.
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Items of Business:
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1.
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To consider and vote upon a proposal to authorize and approve the dissolution (the "Dissolution") of Getaround, Inc. (the "Company") in accordance with Section 275 et seq. of the Delaware General Corporation Law (the "DGCL") and authorize, adopt and approve the Plan of Liquidation and Distribution (as it may be amended, modified or abandoned from time to time by the Board of Directors of the Company (the "Board") at any time and without further action by the stockholders, and including the transactions contemplated thereby, the "Plan of Distribution"), which, if approved, will authorize the Board to liquidate the Company in accordance with the terms thereof (the "Dissolution Proposal").
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2.
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To approve the adjournment of the Special Meeting, from time to time, if deemed necessary or advisable by the Board or a committee thereof, including to solicit additional proxies if a quorum is not present or if there are not sufficient votes at the time of the Special Meeting to approve the Dissolution Proposal (the "Adjournment Proposal").
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Record Date:
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You are entitled to notice of, and to vote at, the Special Meeting only if you were a Getaround stockholder as of the close of business on [ ], 2026 (the "Record Date").
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Voting:
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Each share of common stock that you own represents one vote. You may vote via the internet, by telephone or by mail. For specific instructions on how to vote your shares, refer to the section entitled "General Information about the Special Meeting" of this Proxy Statement, your proxy card or on any additional voting instructions that accompanied your proxy materials.
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TABLE OF CONTENTS
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Page
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General Information about the Special Meeting
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1
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Special Note Regarding Forward-Looking Statements
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8
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Risk Factors
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9
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Proposal 1: Approval of the Dissolution and the Plan of Distribution
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12
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Proposal 2: Approval of an Adjournment of the Special Meeting
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29
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Security Ownership of Certain Beneficial Owners and Management
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30
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Additional Information
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32
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Other Matters
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32
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Annex A: Plan of Liquidation and Distribution of Getaround, Inc.
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A-1
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Annex B: Sections 275 through 283 of the Delaware General Corporation Law
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B-1
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Proposal
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Description
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Vote Required
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Board Vote
Recommendation
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1
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To consider and vote upon a proposal to authorize and approve the Dissolution of the Company in accordance with Section 275 et seq. of the DGCL and authorize, adopt and approve the Plan of Distribution, which, if approved, will authorize the Board to liquidate the Company in accordance with the terms thereof (the "Dissolution Proposal").
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Majority of Outstanding Shares of Common Stock
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FOR
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2
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To approve the adjournment of the Special Meeting, from time to time, if deemed necessary or advisable by the Board or a committee thereof, including to solicit additional proxies if a quorum is not present or if there are not sufficient votes at the time of the Special Meeting to approve the Dissolution Proposal (the "Adjournment Proposal").
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If a Quorum is Present: Majority of Votes Cast
If a Quorum is not Present: Holders of a Majority of the Voting Power of the Shares Entitled to Vote Who Are Present in Person or Represented by Proxy at the Special Meeting
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FOR
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Vote by Internet. Stockholders of record with internet access may vote at www.proxyvote.com by following the instructions at that site. The website address for internet voting is also provided on your proxy card. Your vote must be received by 11:59 p.m., Eastern Time, on [ ], 2026, to be counted. If you vote via the internet, you do not need to return a proxy card by mail. If you hold your shares beneficially in street name, please check the voting instruction card provided by your broker, trustee or nominee for internet voting availability and instructions.
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Vote by Telephone. Stockholders of record may vote by telephone by dialing 1-800-690-6903 (the call is toll-free in the United States and Canada; toll charges apply to calls from other countries) and following the recorded instructions. You will be asked to provide the control number from your proxy card. Your vote must be received by 11:59 p.m., Eastern Time, on [ ], 2026, to be counted. If you vote by telephone, you do not need to return a proxy card by mail. If you hold your shares in street name, please check the voting instructions provided by your broker, trustee or nominee for telephone voting availability and instructions.
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Vote by Mail. Stockholders of record who receive proxy materials by mail may submit proxies by completing and signing their proxy cards and returning them promptly in the pre-addressed envelope provided so that it is received no later than [ ], 2026. If you vote via the Internet or by telephone, you do not need to return a proxy card by mail. If you hold your shares in street name, please check the voting instructions provided by your broker, trustee or nominee for how to vote by mail.
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plans and expectations for the Dissolution;
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beliefs about our available options and financial condition;
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all statements regarding the tax and accounting consequences of the transactions contemplated by the Dissolution; and
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all statements regarding the amount and timing of distributions made to stockholders, if any, in connection with the Dissolution.
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our ability to complete the Dissolution in a timely manner, or at all;
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the timing and amount of cash and other assets available for distribution, if any, to our stockholders in connection with the Dissolution and Plan of Distribution;
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the impact of business uncertainties in connection with the Dissolution;
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the occurrence of any event, change or circumstance that could give rise to the abandonment of the Dissolution or amendment, modification, abandonment or revocation of the Plan of Distribution;
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the risk that we may have liabilities or obligations about which we are not currently aware;
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the risk that the cost of settling our liabilities and contingent obligations could be higher than anticipated; and
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other risks and uncertainties described in our most recent filings with the SEC (including under the caption "Risk Factors" in these filings), including our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 29, 2024, Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on November 14, 2024, and any subsequent reports filed with the SEC from time to time.
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income and other taxes;
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our outstanding senior secured debt obligations, including the New SPN and the Convertible Notes (each as described below);
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the costs associated with our Dissolution and winding up over the Survival Period; these costs may include, among others, expenses necessary to the implementation and administration of our Plan of Distribution and fees and other amounts payable to professional advisors (including legal counsel, financial advisors and others) and to consultants and others assisting us with our Dissolution and winding up;
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any meritorious claims by others against us;
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any amounts owed by us under contracts with third parties;
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the funding of any reserves or other security we are required to establish, or deem appropriate to establish, to pay for asserted claims (including lawsuits) against the Company which are the subject of a pending action, suit or proceeding to which the Company is a party and possible future claims against the Company which have not been made known to the Company or that have not arisen but that, based on facts known to the Company, are likely to arise or to become known to the Company within 10 years after the Effective Time, as further described below; and
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solely to the extent remaining after payment of or provision for the above-described liabilities, obligations and claims, pro rata distributions of the Company's remaining assets, if any, to our stockholders, which distributions may be made from time to time as available and in accordance with the DGCL procedures described below.
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ongoing operating and reporting expenses;
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expenses, including retention amounts, incurred in connection with extending our directors' and officers' insurance coverage;
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expenses incurred in connection with the Dissolution;
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taxes imposed upon us and any of our assets; and
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professional, legal, consulting and accounting fees.
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banks, financial institutions or insurance companies;
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tax-exempt entities or governmental entities;
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persons who hold shares of our common stock as part of a straddle, hedge, constructive sale, or other integrated transaction or conversion transaction or similar transactions;
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persons who have been, but are no longer, citizens or residents of the United States;
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entities classified as partnerships for U.S. federal income tax purposes, "S corporations," or any other pass-through entities for U.S. federal income tax purposes (or investors in such entities);
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dealers or traders in securities, commodities or currencies, or other persons who have elected mark-to-market accounting;
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grantor trusts;
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holders whose functional currency is not the U.S. dollar;
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regulated investment companies or real estate investment trusts;
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persons who hold shares of our common stock as "qualified small business stock" under Section 1202 of the Code or "section 1244 stock" under Section 1244 of the Code,
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controlled foreign corporations or passive foreign investment companies;
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corporations that accumulate earnings to avoid U.S. federal income tax;
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persons who received the shares of our common stock through the exercise of incentive stock options or through the issuance of restricted stock under an equity incentive plan or through a tax qualified retirement plan; or
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persons who own (directly or through attribution) five percent or more (by voting power or value) of our common stock.
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an individual who is a citizen or resident of the United States;
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a corporation, or other entity treated as a corporation for U.S. federal income tax purposes, created or organized in or under the laws of the United States or any state thereof or the District of Columbia;
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an estate, the income of which is subject to U.S. federal income tax regardless of its source; or
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a trust (i) that is subject to the primary supervision of a court within the United States and the control of one or more United States persons as defined in section 7701(a)(30) of the Code or (ii) that has a valid election in effect under applicable Treasury Regulations to be treated as a United States person as defined in section 7701(a)(30) of the Code.
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a non-resident alien individual, other than certain former citizens and residents of the United States subject to U.S. tax as expatriates;
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a foreign corporation; or
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an estate or trust that is not a U.S. Holder.
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the gain is effectively connected with the Non-U.S. Holder's conduct of a trade or business within the United States (and, if required by an applicable income tax treaty, the Non-U.S. Holder maintains a permanent establishment in the United States to which such gain is attributable);
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the Non-U.S. Holder is a nonresident alien individual present in the United States for 183 days or more during the taxable year of the disposition (as such days are calculated pursuant to Section 7701(b) of the Code) and certain other requirements are met; or
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our common stock constitutes a U.S. real property interest ("USRPI") by reason of our status as a U.S. real property holding corporation ("USRPHC") for U.S. federal income tax purposes.
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each person or group of affiliated persons who is the beneficial owner of more than 5% of the outstanding shares of our common stock;
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each of our named executive officers and directors; and
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all of our current executive officers and directors, as a group.
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Name and Address of Beneficial Owner
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Number of Shares
Beneficially Owned
(#)
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Percent of Shares
Beneficially Owned
(%)
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Five Percent and Greater Holders:
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Entities affiliated with Mudrick Capital Management(1)
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[ ]
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[•]
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Entities affiliated with SoftBank Vision Fund(2)
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21,516,384
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[•]
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InterPrivate Acquisition Management II, LLC(3)
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8,229,611
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[•]
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Named Executive Officers and Directors
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Mauricio Rivera
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*
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Patricia Huerta
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*
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AJ Lee
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-
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*
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Bruno Bowden(4)
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113,043
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*
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Jason Mudrick(1)
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[ ]
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[•]
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Neil Salvage
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*
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Qais Sharif
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-
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*
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Sam Zaid(5)
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8,910,860
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[•]
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All Current Executive Officers and Directors as a Group (6 persons)(6)
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[ ]
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[•]
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*
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Represents beneficial ownership of less than one percent.
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(1)
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As reported on a Schedule 13D/A filed by Mudrick Capital Management, L.P. ("MCM") on April 14, 2026. Represents (i) [ ] shares of common stock, (ii) [ ] 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. The percentage ownership represents a percentage of the total number of shares that would be outstanding following a conversion of all such Convertible Notes. The Convertible Notes are convertible at an as-adjusted conversion price of $0.25 per share, representing a conversion rate of 4,000 shares per $1,000 principal amount of Convertible Notes, which is subject to further adjustment as provided in the indenture governing the Convertible Notes. Mudrick GP, LLC ("Mudrick GP") is the general partner of Global LP and may be deemed to beneficially own the securities directly held by Global LP. Mudrick Distressed Opportunity Drawdown Fund II GP, LLC ("Drawdown II GP") is the general partner
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(2)
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As reported on a Schedule 13D/A filed by SB Investment Advisers (UK) Limited ("SBIA UK") on September 12, 2023. Includes (i) 12,885,948 shares held by SoftBank Vision Fund (AIV M2) L.P. ("SVF AIV") and (ii) 8,630,436 shares held by SVF Fetch (Cayman) Limited ("SVF Fetch"). SoftBank Vision Fund L.P. ("SVF") is the managing member of SVF Holdings (UK) LLP, which is the sole owner of SVF Sync Holdings (Cayman) Limited, which in turn is the sole owner of SVF Fetch. SBIA UK has been appointed as alternative investment fund manager ("AIFM") of SVF. As AIFM, SBIA UK is authorized and regulated by the UK Financial Conduct Authority and is exclusively responsible for making all decisions related to the acquisition, structuring, financing, and disposal of SVF's and SVF AIV's investments. Rajeev Misra, Saleh Romeih and Neil Hadley are the directors of SBIA UK. Accordingly, each of the foregoing entities and individuals may be deemed to share beneficial ownership of the securities held of record by SVF AIV and SVF Fetch. Each of them disclaims any such beneficial ownership. The business address for each of SBIA UK and SVF Holdings (UK) LLP is 69 Grosvenor Street, London W1K 3JP, United Kingdom. The business address for SVF is Aztec Group House, 11-15 Seaton Place, St. Helier, Jersey, JE4 0QH. The business address of SVF AIV is 251 Little Falls Drive, Wilmington, Delaware 19808. The business address for each of SVF Sync Holdings (Cayman) Limited and SVF Fetch is c/o Walkers Corp Ltd., 190 Elgin Avenue, George Town, Grand Cayman KY1-9008.
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As reported on a Schedule 13D/A filed by InterPrivate Acquisition Management II, LLC (the "Sponsor") on August 21, 2024. Includes (i) 5,349,611 shares and (ii) 2,880,000 shares underlying private placement warrants. InterPrivate Capital LLC is the managing member of the Sponsor, and Ahmed Fattouh is the managing member of InterPrivate Capital LLC. Mr. Fattouh has sole voting and investment discretion with respect to the shares held of record by the Sponsor. Accordingly, all securities held by the Sponsor may ultimately be deemed to be beneficially held by Mr. Fattouh. The business address of the Sponsor is c/o InterPrivate Capital LLC, 1350 Avenue of the Americas, 2nd Floor, New York, New York 10019.
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(4)
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Includes 33,333 shares issuable pursuant to RSUs that have vested but remain subject to settlement.
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(5)
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Includes (i) 4,767,475 shares held by Zaid Holdings LLC, over which Mr. Zaid may be deemed to have voting and dispositive power, and (ii) 3,747,000 shares issuable pursuant to RSUs that have vested but remain subject to settlement.
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(6)
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Includes (i) [ ] shares of common stock beneficially owned by all of the Company's current executive officers and directors as a group, (ii) [ ] shares underlying Convertible Notes beneficially owned by Mr. Mudrick, (iii) 7,000,000 shares underlying warrants beneficially owned by Mr. Mudrick, and (iv) 3,780,333 shares issuable pursuant to RSUs that have vested but remain subject settlement.
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Our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on March 29, 2024, as amended by Amendment No. 1 thereto, as filed with the SEC on April 29, 2024;
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Our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024, as filed with the SEC on May 10, 2024, August 13, 2024, and November 14, 2024, respectively;
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Our Current Reports on Form 8-K filed with the SEC on January 12, 2024, January 24, 2024 (excluding Item 7.01 and Exhibit 99.1 of Item 9.01), February 28, 2024, February 29, 2024, May 1, 2024, June 10, 2024, July 10, 2024, July 18, 2024 (excluding Item 7.01 and Exhibit 99.1 of Item 9.01), August 7, 2024, August 21, 2024, October 16, 2024 (as amended on October 23, 2024, and on December 19, 2024), November 15, 2024, February 12, 2025, May 6, 2025, May 20, 2025, June 30, 2025, July 16, 2025, and June 9, 2026; and
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Our Definitive Proxy Statement on Schedule 14A in connection with our 2024 Annual Meeting of Stockholders, as filed with the SEC on July 3, 2024.
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(a)
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If it should be deemed advisable in the judgment of the board of directors of any corporation that it should be dissolved, the board, after the adoption of a resolution to that effect by a majority of the whole board at any meeting called for that purpose, shall cause notice of the adoption of the resolution and of a meeting of stockholders to take action upon the resolution to be given to each stockholder entitled to vote thereon as of the record date for determining the stockholders entitled to notice of the meeting.
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(b)
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At the meeting a vote shall be taken upon the proposed dissolution. If a majority of the outstanding stock of the corporation entitled to vote thereon shall vote for the proposed dissolution, a certification of dissolution shall be filed with the Secretary of State pursuant to subsection (d) of this section.
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(c)
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Dissolution of a corporation may also be authorized without action of the directors if all the stockholders entitled to vote thereon shall consent in writing and a certificate of dissolution shall be filed with the Secretary of State pursuant to subsection (d) of this section.
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(d)
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If dissolution is authorized in accordance with this section, a certificate of dissolution shall be executed, acknowledged and filed, and shall become effective, in accordance with § 103 of this title. Such certificate of dissolution shall set forth:
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(1)
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The name of the corporation;
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(2)
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The date dissolution was authorized;
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(3)
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That the dissolution has been authorized by the board of directors and stockholders of the corporation, in accordance with subsections (a) and (b) of this section, or that the dissolution has been authorized by all of the stockholders of the corporation entitled to vote on a dissolution, in accordance with subsection (c) of this section;
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(4)
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The names and addresses of the directors and officers of the corporation; and
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(5)
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The date of filing of the corporation's original certificate of incorporation with the Secretary of State.
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(e)
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The resolution authorizing a proposed dissolution may provide that notwithstanding authorization or consent to the proposed dissolution by the stockholders, or the members of a nonstock corporation pursuant to § 276 of this title, the board of directors or governing body may abandon such proposed dissolution without further action by the stockholders or members.
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(f)
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If a corporation has included in its certificate of incorporation a provision limiting the duration of its existence to a specified date in accordance with § 102(b)(5) of this title, a certificate of dissolution shall be executed, acknowledged and filed in accordance with § 103 of this title within 90 days before such specified date and shall become effective on such specified date. Such certificate of dissolution shall set forth:
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(1)
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The name of the corporation;
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(2)
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The date specified in the corporation's certificate of incorporation limiting the duration of its existence;
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(3)
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The names and addresses of the directors and officers of the corporation; and
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(4)
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The date of filing of the corporation's original certificate of incorporation with the Secretary of State.
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(g)
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A corporation shall be dissolved upon the earlier of:
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(1)
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The date specified in such corporation's certificate of incorporation pursuant to § 102(b)(5) of this title; or
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(2)
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The effectiveness in accordance with § 103 of this title of a certificate of dissolution filed in accordance with this section.
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(a)
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Whenever it shall be desired to dissolve any nonstock corporation, the governing body shall perform all the acts necessary for dissolution which are required by § 275 of this title to be performed by the board of directors of a corporation having capital stock. If any members of a nonstock corporation are entitled to vote for the election of members of its governing body or are entitled to vote for dissolution under the certificate of incorporation or the bylaws of such corporation, such members shall perform all the acts necessary for dissolution which are contemplated by § 275 of this title to be performed by the stockholders of a corporation having capital stock, including dissolution without action of the members of the governing body if all the members of the corporation entitled to vote thereon shall consent in writing and a certificate of dissolution shall be filed with the Secretary of State pursuant to § 275(d) of this title. If there is no member entitled to vote thereon, the dissolution of the corporation shall be authorized at a meeting of the governing body, upon the adoption of a resolution to dissolve by the vote of a majority of members of its governing body then in office. In all other respects, the method and proceedings for the dissolution of a nonstock corporation shall conform as nearly as may be to the proceedings prescribed by § 275 of this title for the dissolution of corporations having capital stock.
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(b)
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If a nonstock corporation has not commenced the business for which the corporation was organized, a majority of the governing body or, if none, a majority of the incorporators may surrender all of the corporation rights and franchises by filing in the office of the Secretary of State a certificate, executed and acknowledged by a majority of the incorporators or governing body, conforming as nearly as may be to the certificate prescribed by § 274 of this title.
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(c)
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If a nonstock corporation has included in its certificate of incorporation a provision limiting the duration of its existence to a specified date in accordance with § 102(b)(5) of this title, a certificate of dissolution shall be executed, acknowledged and filed in accordance with § 103 of this title within 90 days before such specified date and shall become effective on such specified date. Such certificate of dissolution shall include the information required by § 275(f) of this title. The failure to timely file a certificate of dissolution pursuant to this subsection with respect to any nonstock corporation shall not affect the expiration of such corporation's existence on the date specified in its certificate of incorporation pursuant to § 102(b)(5) of this title and shall not eliminate the requirement to file a certificate of dissolution as contemplated by this subsection. If a certificate of good standing is issued by the Secretary of State after the date specified in a nonstock corporation's certificate of incorporation pursuant to § 102(b)(5) of this title, such certificate of good standing shall be of no force or effect.
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(1)
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All franchise taxes due to or assessable by the State including all franchise taxes due or which would be due or assessable for the entire calendar month during which such dissolution, merger, transfer or conversion becomes effective have been paid by the corporation; and
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(2)
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All annual franchise tax reports including a final annual franchise tax report for the year in which such dissolution, merger, transfer or conversion becomes effective have been filed by the corporation;
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(a)
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(1) After a corporation has been dissolved in accordance with the procedures set forth in this chapter, the corporation or any successor entity may give notice of the dissolution, requiring all persons having a claim against the corporation other than a claim against the corporation in a pending action, suit or proceeding to which the corporation is a party to present their claims against the corporation in accordance with such notice. Such notice shall state:
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a.
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That all such claims must be presented in writing and must contain sufficient information reasonably to inform the corporation or successor entity of the identity of the claimant and the substance of the claim;
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b.
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The mailing address to which such a claim must be sent;
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c.
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The date by which such a claim must be received by the corporation or successor entity, which date shall be no earlier than 60 days from the date thereof; and
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d.
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That such claim will be barred if not received by the date referred to in paragraph (a)(1)c. of this section; and
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e.
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That the corporation or a successor entity may make distributions to other claimants and the corporation's stockholders or persons interested as having been such without further notice to the claimant; and
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f.
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The aggregate amount, on an annual basis, of all distributions made by the corporation to its stockholders for each of the 3 years prior to the date the corporation dissolved.
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(2)
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Any claim against the corporation required to be presented pursuant to this subsection is barred if a claimant who was given actual notice under this subsection does not present the claim to the dissolved corporation or successor entity by the date referred to in paragraph (a) (1)c. of this section.
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(3)
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A corporation or successor entity may reject, in whole or in part, any claim made by a claimant pursuant to this subsection by mailing notice of such rejection by certified or registered mail, return receipt requested, to the claimant within 90 days after receipt of such claim and, in all events, at least 150 days before the expiration of the period described in § 278 of this title; provided however, that in the case of a claim filed pursuant to § 295 of this title against a corporation or successor entity for which a receiver or trustee has been appointed by the Court of Chancery the time period shall be as provided in § 296 of this title, and the 30-day appeal period provided for in § 296 of this title shall be applicable. A notice sent by a corporation or successor entity pursuant to this subsection shall state that any claim rejected therein will be barred if an action, suit or proceeding with respect to the claim is not commenced within 120 days of the date thereof, and shall be accompanied by a copy of §§ 278-283 of this title and, in the case of a notice sent by a court-appointed receiver or trustee and as to which a claim has been filed pursuant to § 295 of this title, copies of §§ 295 and 296 of this title.
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(4)
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A claim against a corporation is barred if a claimant whose claim is rejected pursuant to paragraph (a)(3) of this section does not commence an action, suit or proceeding with respect to the claim no later than 120 days after the mailing of the rejection notice.
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(b)
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(1) A corporation or successor entity electing to follow the procedures described in subsection (a) of this section shall also give notice of the dissolution of the corporation to persons with contractual claims contingent upon the occurrence or nonoccurrence of future events or otherwise conditional or unmatured, and request that such persons present such claims in accordance with the terms of such notice. Provided however, that as used in this section and in § 281 of this title, the term "contractual claims" shall not include any implied warranty as to any product manufactured, sold, distributed or handled by the dissolved corporation. Such notice shall be in substantially the form, and sent and published in the same manner, as described in paragraph (a)(1) of this section.
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(2)
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The corporation or successor entity shall offer any claimant on a contract whose claim is contingent, conditional or unmatured such security as the corporation or successor entity determines is sufficient to provide compensation to the claimant if the claim matures. The corporation or successor entity shall mail such offer to the claimant by certified or registered mail, return receipt requested, within 90 days of receipt of such claim and, in all events, at least 150 days before the expiration of the period described in § 278 of this title. If the claimant offered such security does not deliver in writing to the corporation or successor entity a notice rejecting the offer within 120 days after receipt of such offer for security, the claimant shall be deemed to have accepted such security as the sole source from which to satisfy the claim against the corporation.
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(c)
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(1) A corporation or successor entity which has given notice in accordance with subsection (a) of this section shall petition the Court of Chancery to determine the amount and form of security that will be reasonably likely to be sufficient to provide compensation for any claim against the corporation which is the subject of a pending action, suit or proceeding to which the corporation is a party other than a claim barred pursuant to subsection (a) of this section.
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(2)
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A corporation or successor entity which has given notice in accordance with subsections (a) and (b) of this section shall petition the Court of Chancery to determine the amount and form of security that will be sufficient to provide compensation to any claimant who has rejected the offer for security made pursuant to paragraph (b)(2) of this section.
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(3)
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A corporation or successor entity which has given notice in accordance with subsection (a) of this section shall petition the Court of Chancery to determine the amount and form of security which will be
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(d)
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The giving of any notice or making of any offer pursuant to this section shall not revive any claim then barred or constitute acknowledgment by the corporation or successor entity that any person to whom such notice is sent is a proper claimant and shall not operate as a waiver of any defense or counterclaim in respect of any claim asserted by any person to whom such notice is sent.
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(e)
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As used in this section, the term "successor entity" shall include any trust, receivership or other legal entity governed by the laws of this State to which the remaining assets and liabilities of a dissolved corporation are transferred and which exists solely for the purposes of prosecuting and defending suits, by or against the dissolved corporation, enabling the dissolved corporation to settle and close the business of the dissolved corporation, to dispose of and convey the property of the dissolved corporation, to discharge the liabilities of the dissolved corporation and to distribute to the dissolved corporation's stockholders any remaining assets, but not for the purpose of continuing the business for which the dissolved corporation was organized.
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(f)
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The time periods and notice requirements of this section shall, in the case of a corporation or successor entity for which a receiver or trustee has been appointed by the Court of Chancery, be subject to variation by, or in the manner provided in, the Rules of the Court of Chancery.
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(g)
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In the case of a nonstock corporation, any notice referred to in the last sentence of paragraph (a)(3) of this section shall include a copy of § 114 of this title. In the case of a nonprofit nonstock corporation, provisions of this section regarding distributions to members shall not apply to the extent that those provisions conflict with any other applicable law or with that corporation's certificate of incorporation or bylaws.
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(a)
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A dissolved corporation or successor entity which has followed the procedures described in § 280 of this title:
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(1)
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Shall pay the claims made and not rejected in accordance with § 280(a) of this title,
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(2)
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Shall post the security offered and not rejected pursuant to § 280(b)(2) of this title,
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(3)
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Shall post any security ordered by the Court of Chancery in any proceeding under § 280(c) of this title, and
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(4)
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Shall pay or make provision for all other claims that are mature, known and uncontested or that have been finally determined to be owing by the corporation or such successor entity.
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(b)
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A dissolved corporation or successor entity which has not followed the procedures described in § 280 of this title shall, prior to the expiration of the period described in § 278 of this title, adopt a plan of distribution pursuant to which the dissolved corporation or successor entity (i) shall pay or make reasonable provision to pay all claims and obligations, including all contingent, conditional or unmatured contractual claims known to the corporation or such successor entity, (ii) shall make such provision as will be reasonably likely to be sufficient to provide compensation for any claim against the corporation which is the subject of a pending action, suit or proceeding to which the corporation is a party and (iii) shall make such provision as will be reasonably likely to be sufficient to provide compensation for claims that have not been made known to the
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(c)
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Directors of a dissolved corporation or governing persons of a successor entity which has complied with subsection (a) or (b) of this section shall not be personally liable to the claimants of the dissolved corporation.
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(d)
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As used in this section, the term "successor entity" has the meaning set forth in § 280(e) of this title.
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(e)
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The term "priority," as used in this section, does not refer either to the order of payments set forth in paragraph (a)(1)-(4) of this section or to the relative times at which any claims mature or are reduced to judgment.
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(f)
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In the case of a nonprofit nonstock corporation, provisions of this section regarding distributions to members shall not apply to the extent that those provisions conflict with any other applicable law or with that corporation's certificate of incorporation or bylaws.
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(a)
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A stockholder of a dissolved corporation the assets of which were distributed pursuant to § 281(a) or (b) of this title shall not be liable for any claim against the corporation in an amount in excess of such stockholder's pro rata share of the claim or the amount so distributed to such stockholder, whichever is less.
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(b)
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A stockholder of a dissolved corporation the assets of which were distributed pursuant to § 281(a) of this title shall not be liable for any claim against the corporation on which an action, suit or proceeding is not begun prior to the expiration of the period described in § 278 of this title.
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(c)
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The aggregate liability of any stockholder of a dissolved corporation for claims against the dissolved corporation shall not exceed the amount distributed to such stockholder in dissolution.
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