Company: SRFM
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001193125-25-275795
Chunk: 20

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-12
Form: 424B5
Chunk 20
---
3 Plan and the Surf Air Mobility Inc. Employee Stock Purchase Plan; • delivery of up to 900,000 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 November12, 2025; and • 2,048,195 shares of common stock issuable upon exercise of the warrants and the private placement warrants and 18,574,297 shares of our common stock issuable upon the conversion of the Notes offered in the Concurrent Offerings. Furthermore, we may choose to raise additional capital through the sale of equity or convertible debt securities due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. New investors will experience further dilution if any of our outstanding options or warrants are exercised, new options are issued and exercised under our equity incentive plans or we issue additional shares of common stock, other equity securities or convertible debt securities in the future.

<div align='center'>S-15

THE CONCURRENT OFFERINGS</div>

Concurrently with these offerings, we are offering (i) 2,048,195 shares of common stock and accompanying private placement warrants to purchase up to 2,048,195 shares of common stock to the Private Placement Investors and (ii) the Notes in the aggregate principal amount of $74.0 million to the Notes Investor, each in an offering exempt from registration under the Securities Act.

We estimate that the net proceeds to us from the Concurrent Offerings will be approximately $10 million, after deducting our estimated offering expenses. We intend to use the net proceeds from the Concurrent Offerings, together with the proceeds from the Registered Direct Offering, as described under “Use of Proceeds.”

On November 7, 2025, we had consolidated indebtedness of $96.9 million; after giving pro forma effect to the Registered Direct Offering and the Concurrent Offerings, including application of the proceeds as described herein, as if they had occurred on November 7, 2025, we would have had consolidated indebtedness of $119.1 million and our consolidated net debt load would have decreased by 37.3%, from $139.1 million on December 31, 2024, to $87.2 million. This reflects, inter alia, that as of October 24, 2025, the Company has reduced amounts outstanding under the GEM MCS from $38.6 million on December 31, 2024 to