Company: SRFM
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001193125-25-273369
Chunk: 5

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-10
Form: 424B5
Chunk 5
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, 2025.

There can be no assurance that funding will continue without interruption after November 18, 2025 or that appropriations will be made on a timely basis. While the DOT has historically restored and funded EAS obligations retroactively following prior government shutdowns, no commitment to do so has been made in connection with this shutdown and there can be no assurance that Congress will authorize retroactive reimbursement for service provided during a lapse. The Company and its operating subsidiaries have provided, and intend to continue to provide full scheduled EAS service during the current funding uncertainty. The Company will continue to evaluate operations in coordination with the DOT as circumstances evolve.

Interruptions, reductions, or delays in federal appropriations for the EAS program—or changes in related legislation, regulations, or administrative practices—could affect the timing and amount of subsidy payments and increase the Company’s working capital requirements to the extent it elects to continue operating EAS routes during a funding lapse. The Company monitors these developments closely and will continue to assess their potential impact on liquidity, operating results, and overall business strategy.

Aircraft Leases

As of September 30, 2025, the Company continued to lease four aircraft from Park Lane, for a monthly lease payment of $25 thousand per aircraft. The leases for the four planes have been extended on a month to month basis beginning January 31, 2025.

In October 2025, the parties amended each of the four leases to waive certain return conditions under the leases in consideration of the Company’s issuance of an aggregate of 1,200,000 shares (300,000 shares per aircraft) of common stock to Park Lane and terminated the respective aircraft leases thereto.

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| THE OFFERINGS                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Common stock offered by us in the Registered Direct Offering:                                                              | shares of common stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Warrants offered by us in the Registered Direct Offering:                                                                  | The purchasers of the common stock in the Registered Direct Offering will also receive accompanying  warrants to purchase up to 100% of the number of shares of the common stock purchased by such investors in the Registered Direct Offering. The exercise price of each warrant is $      per share. The warrants are exercisable immediately and will expire on the second anniversary of the original issuance date. The warrants will be initially exercisable solely on a cashless basis but may become exercisable against payment of the exercise price if the conditions described herein are met.