Company: SRFM
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001193125-25-275795
Chunk: 19

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-12
Form: 424B5
Chunk 19
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 the issuance and sale in the Registered Direct Offering of 3,975,901 shares of our common stock and 3,975,901 accompanying warrants, and the issuance and sale of 1,000,000 shares of our common stock in the Palantir Placement and after deducting estimated offering expenses payable by us, our as-adjusted net tangible book value as of June 30, 2025 would have been $(120.5) million, or approximately $(2.90) per share of our common stock (assuming no exercise of the warrants). This represents an immediate increase in net tangible book value of $0.85 per share of our common stock to our existing stockholders and an immediate dilution of $6.22 per share to the purchasers of common stock in the Registered Direct Offering, as illustrated in the following table.

| Offering price per share(1)                                                                      
 Historical net tangible book value per share as of June 30, 2025                                 |   $    3.32 
 $    (3.75) |
|:-------------------------------------------------------------------------------------------------|------------:|
| Increase in as-adjusted net tangible book value per share attributable to indicated transactions |   $    0.85 |
| As-adjusted net tangible book value per share after indicated transactions                       | $    (2.90) |
| Dilution per share to the purchaser of common stock in indicated transactions                    |   $    6.22 |

(1) Price includes accompanying warrant, except in the case of the Palantir Placement. The foregoing calculations are based on 36,561,659 shares of common stock outstanding as of June 30, 2025, and exclude: • 2,421,713 shares of common stock issuable upon exercise of stock options outstanding as of June 30, 2025, pursuant to the 2016 Plan and the 2023 Plan, with a weighted average exercise price of $8.25 per share; • 2,325,986 shares of common stock underlying restricted stock units and performance-based restricted stock units outstanding as of June 30, 2025, pursuant to the 2023 Plan, with a weighted average grant date fair value of $2.80 per share; • 17,276 shares of common stock issuable upon exercise of preferred share warrants outstanding as of June 30, 2025, with a weighted average exercise price of $267.61; • 114,285 shares of common stock reserved for issuance under the 202