Company: SRFM
Filing Date: 2025-05-13
Form Type: DEF 14A
Source: 0001140361-25-018647
Chunk: 64

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-13
Form: DEF 14A
Chunk 64
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able convertible preferred shares were converted and LamVen received 224,351 shares of our common stock. In 2021, SAGL issued an aggregate of $4.45 million of 8.25% convertible notes due 2022 to LamJam (the “LamJam Note”). During 2022, the LamJam Note was converted into 17,373,521 SAGL redeemable convertible preferred shares. In connection with the direct listing, LamJam’s 17,373,521 SAGL redeemable convertible preferred shares were converted and LamJam received 775,599 shares of our common stock. During 2017 and 2018, SAGL issued an aggregate of $3.5 million of 22.0% convertible notes due 2022 to LamVen. As of December 31, 2022, these notes remained outstanding. The maturity date of these notes were extended to December 2023. During

| Surf Air Mobility Inc. |     | 49 |     | 2025 Proxy Statement |

TABLE OF CONTENTS 2022, SAGL issued an aggregate of $1.3 million of 8.25% convertible notes due 2022 to LamVen (the “LamVen Note”). During 2022, the LamVen Note was converted into 4,940,258 SAGL redeemable convertible preferred shares. In connection with the direct listing, LamVen’s 4,940,258 SAGL redeemable convertible preferred shares were converted and LamVen received 220,546 shares of our common stock. Term Notes The Company entered into term note agreements with LamVen and recorded the notes in Due to related parties at carrying value on the Consolidated Balance Sheets. The LamVen notes with aggregate principal amounts of $4.5 million and $1.0 million, an effective date of November 30, 2022 and January 18, 2023, respectively, and bearing an interest rate of 8.25% per annum, remained outstanding as of March 31, 2023. Both term notes were exchanged for cash and scheduled to mature on the earlier of December 31, 2023 or the date on which the note is otherwise accelerated as provided for in the agreement. Interest for the notes are payable in full at maturity or upon acceleration by prepayment. On December 29, 2023, the term notes were amended to extend the maturity date to January 15, 2024. On January