Company: SRFM
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001193125-25-273369
Chunk: 17

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-10
Form: 424B5
Chunk 17
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 our consolidation or merger with or into another person, the acquisition of greater than 50% of our outstanding common stock, or any person or group becoming the beneficial owner of greater than 50% of the voting power represented by our outstanding common stock, the holders of the warrants will be entitled to receive upon exercise of the warrants the kind and amount of securities, cash or other property that the holders would have received had they exercised the warrants immediately prior to such fundamental transaction.In addition, the holders of the warrants have the right to require us or a successor entity to redeem the warrant in the amount calculated under the terms of the warrant (intended to represent the Black Scholes value of the unexercised portion of the warrant on the date of the consummation of the fundamental transaction).

<div align='center'>S-13

USE OF PROCEEDS</div>

We estimate that the net proceeds from our issuance and sale of shares of our common stock and accompanying warrants in the Registered Direct Offering will be approximately $ , after deducting estimated offering expenses payable by us and excluding any proceeds we may receive upon the cash exercise of the warrants. We estimate that the net proceeds to us from the offering of the Notes will be approximately $58.8 million and net proceeds to us from the offering of the common stock and private placement warrants sold in the Concurrent Offering will be approximately $ , each after deducting our estimated offering expenses. We estimate that the offering expenses payable by us in these offerings and the Concurrent Offerings will be approximately $6.2 million.

We intend to use the net proceeds from the Registered Direct Offering and the common stock and private placement warrants sold in the Concurrent Offerings for the funding of separately capitalized subsidiaries.

We additionally intend to use (i) approximately $50.6 million of the net proceeds from the Concurrent Offering as related to the Notes to repay outstanding indebtedness under our 4-year credit agreement with certain affiliates of Comvest Partners, 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,