Mudrick Capital Acquisition Corp

These are drill intercepts, not reserves or a resource estimate — the release describes both systems as open in all directions and states the company is still deciding the optimal path forward for the mine. The gold- and silver-equivalent figures depend on the two assumed metal prices disclosed in the note, so they are not independent of that assumption.

Total shareholder return of $35.99 per $100 means holders have lost roughly 64% of their capital while annual losses widened to $60.9 million - a pre-production miner consuming cash with no revenue to offset it. The Incentive Plan on this ballot adds dilution against that record. A majority quorum at least ensures broad participation; the meeting would be rescheduled to May 2026 with a lower 33% threshold and a smaller share count.

Amending and restating the incentive plan is the substantive item against only 10,560,958 shares outstanding, so any added reserve is large in percentage terms at a mining company whose stock has been repeatedly consolidated. Six of the seven nominees — Messrs. Goodman, Harrison, Lang, Naccarati and Weng, and Ms. Wieshofer — are independent under Nasdaq standards, leaving Dr. Garrett, president and chief executive since September 8, 2020, as the insider.

A registered ceiling that falls between amendments means less stock going to the Seller's stockholders in the distribution, so this version puts a lower ceiling on the dilution MUDS public holders absorb than the prior one did. Everything else that burdens the deal is unchanged: MUDS still assumes up to $80,000,000 of Seller's New Subordinated Notes, the Sprott Credit Agreement obligations and the Seller Warrant Agreement liabilities, and still pays off the First Lien Credit Agreement and the Jacobs Note. The fee of $22,529.21 paid February 14, 2020 still covers it.

This is a debt-heavy asset purchase rather than a clean merger, and the liabilities travel with it: MUDS assumes up to $80,000,000 in aggregate principal of Seller's New Subordinated Notes, Seller's obligations under the Sprott Credit Agreement and its liabilities under the Seller Warrant Agreement, and pays off the First Lien Credit Agreement and the Jacobs Note. The 16,849,092 registered shares are priced at $10.00 for fee purposes, giving $168,490,920 and a fee of $21,870.12 against $22,529.21 already paid on February 14, 2020.

The consideration is a fixed maximum share count issued to the Seller and then distributed out to the Seller's own stockholders, so MUDS public holders are diluted by a known ceiling rather than by a floating exchange ratio. Because MUDS buys the subsidiaries and substantially all other assets and liabilities rather than the parent, the registration statement carries the target's financial statements at that asset level. The $10.00 per share used in the table is stated as an estimate solely for calculating the registration fee.

What changed: The filing reports that on August 27, 2026, Hycroft Mining Holding Corporation appointed Rebecca A. Jennings to the role of Executive Vice President, General Counsel and Corporate Secretary, effective immediately. In connection with this promotion, the Board approved an amendment to her employment agreement increasing her annual base salary to $450,000, raising her target annual cash incentive bonus to 80% of base salary (with a total opportunity ranging from 0% to 200%), and increasing severance benefits to 1.5 times base salary plus 18 months of subsidized medical benefits for termination without cause or for good reason, and 2 times base salary plus 2 times the applicable Annual Bonus amount plus 24 months of subsidized medical coverage for such termination within 90 days prior to or one year after a change in control. Additionally, Ms. Jennings received a special grant of restricted stock units with a target grant date value equal to $239,500, vesting in annual installments of 33%, 33%, and 34% on the first, second, and third anniversaries of the grant date. Why it matters: This filing details significant changes to the compensation and retention terms for a key executive officer following a promotion, which may impact the company's operating expenses and governance structure. It does not contain information regarding redemption deadlines, trust value, extensions, deal progress, or sponsor conduct for Mudrick Capital Acquisition Corp (HYMC), as HYMC is listed as liquidated and the filing is made by the post-business combination entity, Hycroft Mining Holding Corporation.

What changed: Hycroft Mining Holding Corporation issued a press release dated August 18, 2026 with further results from its 2025-2026 exploration drill program at the Hycroft Mine in Nevada. Reported intercepts include hole H26D-6169 at 82.7 metres of 87.52 g/t silver and 0.77 g/t gold, including 19.4 metres of 108.19 g/t silver and 2.10 g/t gold and an interval of 0.7 metres at 14.35 g/t gold; and hole H26D-6088 at 12.5 metres of 375.41 g/t silver, including 4.2 metres of 748.02 g/t silver, extending the Vortex high-grade system approximately 150 metres west. Why it matters: These are drill intercepts, not reserves or a resource estimate — the release describes both systems as open in all directions and states the company is still deciding the optimal path forward for the mine. The gold- and silver-equivalent figures depend on the two assumed metal prices disclosed in the note, so they are not independent of that assumption.

What changed: 8-K of Hycroft Mining Holding Corporation. Item 2.02 (results of operations and financial condition): on July 28, 2026 the Company issued a press release providing information about its operating and financial results for the quarter ended June 30, 2026, furnished as Exhibit 99.1. Item 7.01 (Regulation FD) repeats the furnishing language for the same exhibit and adds that the Item 7.01 information shall not be deemed an admission as to the materiality of any information in the report. Signed by SVP and General Counsel Rebecca A. Jennings. Why it matters: Quarterly earnings furnishing; the report states no figure. Item 7.01 carries the standing furnishing legend without identifying any disclosure of its own, so the Regulation FD item adds a disclaimer rather than information.

What changed: Hycroft Mining Holding Corporation, the successor to Mudrick Capital Acquisition Corp, filed its Q2 2026 10-Q. Unrestricted cash rose to $220.5 million at June 30, 2026 from $181.7 million at December 31, 2025, funded by $43.4 million of warrant exercises and $35.8 million from its New ATM Program. Shares outstanding grew to 93,181,681 as of July 27, 2026 from 83,025,384 at December 31, 2025. Operating activities used $44.1 million on a net loss of $69.0 million, total liabilities fell to $42.2 million from $49.3 million, and the accumulated deficit reached $895.8 million. Why it matters: The cash balance grew only because roughly 10.2 million new shares were issued through warrant exercises and an at-the-market program — the company states it is in exploration and development and does not expect positive operating cash flow for the foreseeable future. That makes dilution the funding mechanism rather than an occasional event: $79.2 million raised from equity against $44.1 million of operating cash burn in the same six months. Former HYMC holders own a shrinking share of an asset that has yet to generate cash.