IPO - SURF AIR MOBILITY INC.

Form Type: 424B5

Filing Date: 2025-04-01

Corporate Action: Ipo

Type: New

Accession Number: 000095017025048087

Filing Summary: Surf Air Mobility Inc. is offering 1,860,000 shares of common stock at a price of $2.50 per share, alongside 140,000 pre-funded warrants at a price of $2.4999 each. The pre-funded warrants will allow investors to purchase shares at an exercise price of $0.0001 each, exercisable immediately. The funds raised will primarily be used to pay down certain debts and for general corporate purposes. The last reported sale price of the common stock was $2.67 on March 31, 2025. The company, established in 2011 and incorporated in 2021, aims to facilitate sustainable regional air mobility through the development of electric and hybrid aircraft. The offering is managed by H.C. Wainwright & Co. who will receive placement fees based on the securities sold. The shares are expected to be delivered by April 1, 2025, and the company does not plan to list the pre-funded warrants on any exchange, potentially limiting their market liquidity.

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Form Type: 8-K

Filing Date: 2025-04-01

Corporate Action: Ipo

Type: New

Accession Number: 000095017025048519

Filing Summary: On March 31, 2025, Surf Air Mobility, Inc. entered into a securities purchase agreement for a registered direct offering of 1,860,000 shares of common stock at a price of $2.50 per share, alongside pre-funded warrants for an additional 140,000 shares at $2.4999 each. The offering closed on April 1, 2025, generating approximately $5 million in gross proceeds before fees. The sale is being conducted under a shelf registration statement filed on March 21, 2025, and approved on March 26, 2025. Additionally, 100,000 warrants were issued to the placement agent, H.C. Wainwright & Co., at an exercise price of $3.125 each, valid for five years. The company agreed to certain restrictions on share sales for 45 days post-closing and will indemnify the placement agent for related liabilities. This report does not constitute an offer to sell or a solicitation to buy securities.

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