Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On January 2, 2020, Mudrick Capital Acquisition Corporation (the "Company") issued an unsecured promissory note (the "Note") in the amount of up to $1,500,000 to Mudrick Capital Acquisition Holdings LLC (the "Sponsor"). The Note bears no interest and is repayable in full upon consummation of the Company's initial business combination. The note may also be converted into warrants at a price of $1.00 per warrant at the option of the Sponsor upon the consummation of the Company's initial business combination. Such warrants would be identical to the private placement warrants issued to the Sponsor at the Company's initial public offering.

The Note was issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

A copy of the Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosure set forth in this Item 2.03 is intended to be a summary only and is qualified in its entirety by reference to the Note.

Item 9.01 Financial Statements and Exhibits





 (d) Exhibits.




Exhibit
 Number    Exhibit
  10.1       Promissory Note, January 2, 2020, issued by Mudrick Capital
           Acquisition Corporation to Mudrick Capital Acquisition Holdings LLC

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