Company: SRFM
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001193125-25-275795
Chunk: 42

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-12
Form: 424B5
Chunk 42
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-takeover effects. The ability of our board of directors to issue preferred stock without stockholder approval could have the effect of delaying, deferring or preventing a change of control of us or the removal of our management.

Registration Rights

GEM

Pursuant to the terms of the registration rights agreement, dated as of August 26, 2020, that we entered into with GEM Global Yield LLC SCS (“GEM”) and an affiliated entity, we are required to file a registration statement with respect to securities issued, or that could be issued, and are required to maintain the effectiveness of such registration statement.

The registration rights agreement also provides that, in the event that we propose to register any of our securities under the Securities Act, either for our own account or for the account of other securityholders, other than (i) on Form S-4, (ii) Form S-8 or (iii) their then equivalents relating to equity securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with our employee stock option or other employee benefit plans, GEM will be entitled to certain piggyback registration rights allowing it to include its shares in such registration, subject to certain marketing and other limitations. We will pay the registration expenses, other than underwriting discounts and commissions, of the shares registered by the registrations described above.

In addition, we agreed to file a registration statement with the SEC for the resale by GEM and its affiliates of at least 1,142,857 shares of common stock less certain shares of our common stock sold by GEM and to use our commercially reasonable efforts to maintain the effectiveness of such registration statement until the date on which all of the shares issuable upon the conversion of the mandatory convertible security issued to GEM have been sold.

Other Registration Rights

The following parties are entitled to customary rights with respect to the registration of shares of our common stock:

Tuscan Holdings Corp II, with respect to the registration of 90,714 shares of our common stock issued to it;

an advisor that received 2,142 shares of our common stock in satisfaction for fees owed for services in connection with our acquisition of Southern; and

Partners for Growth V, L.P. (“PFG”) with respect to the registration of 190,476 shares of our common stock to be issued to PFG upon a conversion of a senior unsecured convertible promissory note.

A registration statement intended to satisfy such registration requirements was declared effective on September