Company: SRFM
Filing Date: 2025-11-12
Form Type: 8-K
Source: 0001193125-25-277566
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Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-12
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry into a Material Definitive Agreement

On November 10, 2025, Surf Air Mobility, Inc. (the “ Company”) entered into securities purchase agreements (the “ Purchase Agreements”) with certain institutional investors relating to the offering and sale of:

i.

3,975,901 shares (the “ Registered Shares”) of the Company’s common stock, $0.0001 par value per share (the “ Common Stock”) and accompanying warrants to purchase up to 3,975,901 shares of Common Stock (the “ Registered Warrants”), at an offering price of $3.32 per share and accompanying warrant, in a registered direct offering (the “ Registered Direct Offering”);

ii.

2,048,195 shares of Common Stock (the “ Private Placement Shares” and, together with the Registered Shares, the “ Shares”) and accompanying warrants to purchase up to 2,048,195 shares of Common Stock (the “ Private Placement Warrants” and, together with the Registered Warrants, the “ Warrants”), at the same offering price per share and accompanying warrant, in a private placement; and

iii.

$74 million aggregate principal amount of senior secured convertible notes due 2028 (the “ Note”) in a private placement.

The offerings described above closed on November 12, 2025 (the “ Closing Date”).

In addition, the Company issued 1,000,000 shares of Common Stock (the “ Palantir Shares”) on November 10, 2025 at a price of $3.32 per share as a prepayment of consideration for license fees and related professional services to be rendered by Palantir Technologies Inc. (“ Palantir”) pursuant to the Company’s existing software license agreement with Palantir (the “ Palantir Placement”). In addition, the Company delivered 881,579 additional shares of common stock to Palantir as consideration for license fees and related professional services pursuant to the License Agreement on an unregistered basis on November 12, 2025, representing a total payment in shares (together with the Palantir Placement) of approximately $6,000,000.

The Company received gross proceeds from the offerings of approximately $85 million before deducting estimated offering expenses. The Company intends to use the net proceeds from the Registered Direct Offering and the offering of the Private Placement Shares and the Private Placement Warrants for the funding of separately capitalized subsidiaries. The Company intends to use the net proceeds from the offering of the