Company: SRFM
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001193125-25-275795
Chunk: 18

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-12
Form: 424B5
Chunk 18
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, as lenders, dated November 14, 2024 (the “Credit Agreement”), (ii) approximately $8.0 million of the net proceeds from the Concurrent Offerings to repay indebtedness under the convertible note issued under our convertible note purchase agreement with Partners for Growth V.L.P., dated June 21, 2023 (the “PFG Note”) and (iii) approximately $0.5 million of the net proceeds from the Concurrent Offerings to repay outstanding indebtedness under the mandatory convertible security issued under our mandatory convertible security purchase agreement with GEM Global Yield LLC SCS, dated March 1, 2024 (the “GEM MCS”). As of November 10, 2025, we had approximately $47.7 million of indebtedness outstanding under the Credit Agreement. The loans under the Credit Agreement accrue interest at a rate of (x) Term SOFR (subject to a 1.00% floor) plus (y) 5.00%, and are subject to a prepayment premium for 18 months after the initial funding date. As of November 7, 2025, we had approximately $8.0 million of indebtedness outstanding under the PFG Note. The PFG Note bears interest at the greater of (x) SOFR (subject to a 1.00% floor) plus 5.00% and (y) 9.75% and matures on December 31, 2028. As of November 7, 2025, we had approximately $8.3 million of indebtedness outstanding under the GEM MCS. The GEM MCS does not bear interest and matures on August 7, 2029.

We will not receive any cash proceeds from the Palantir Placement.

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DILUTION If you invest in our securities in these offerings, your ownership interest will be diluted to the extent of the difference between the effective offering price per share of our common stock and the as-adjusted net tangible book value per share of our common stock immediately after these offerings, assuming no value is attributed to the warrants. Our historical net tangible book value as of June 30, 2025 was approximately $(137.6) million, or $(3.75) per share. Net tangible book value per share is determined by dividing our total tangible assets, less total liabilities, by the number of shares of our common stock outstanding as of June 30, 2025. After giving effect to