IPO - SURF AIR MOBILITY INC.

Form Type: 424B5

Filing Date: 2025-06-26

Corporate Action: Ipo

Type: New

Accession Number: 000095017025090207

Filing Summary: Surf Air Mobility Inc. is offering 9,873,334 shares of common stock at a price of $2.50 per share, alongside 926,668 pre-funded warrants exercisable at $0.0001 per share, aiming to raise approximately $25 million. The offering is intended for institutional investors and is conducted through placement agent H.C. Wainwright & Co., LLC, with no minimum offering requirement. The company will use proceeds to repay certain debt obligations totaling $7.4 million, including $3.7 million to Park Lane Investments and $3.7 million to LamVen LLC. The shares will be delivered on June 26, 2025. The risks associated with the offering include high dilution potential, the lack of trading market for pre-funded warrants, and the company's continuous need for additional financing.

Form Type: 8-K

Filing Date: 2025-06-26

Corporate Action: Ipo

Type: New

Accession Number: 000095017025090410

Filing Summary: On June 25, 2025, Surf Air Mobility, Inc. entered into a securities purchase agreement for a registered direct offering, selling a total of 10,800,002 shares of common stock at an offering price of $2.50 per share, along with pre-funded warrants to purchase up to 926,668 shares. The offering closed on June 26, 2025, raising approximately $27 million in gross proceeds. As part of the transaction, the company agreed to pay a placement agent fee of 7% of the gross proceeds and issued additional warrants to the agent for 540,000 shares at an exercise price of $3.125. Importantly, until 60 days post-closing, the company is restricted from selling or otherwise disposing of any additional shares of common stock. The offering was conducted under a shelf registration statement declared effective on March 26, 2025, and a related prospectus supplement was also filed with the SEC on the closing date.

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.

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.