Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 293

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 8
Chunk 293
---
-term debt

    (6,566
    )

    (1,349
    )

    Proceeds from borrowings of SAFE notes

    —

    3,716

    Proceeds from advances under Share Purchase Agreement

    3,894

    10,200

    Proceeds from collateralized borrowings, net of repayment

    2,793

    (33
    )

    Proceeds from borrowings on convertible notes

    —

    8,000

    Proceeds from borrowings from related parties

    34,522

    22,502

    Payments of debt issuance costs

    (1,488
    )

    —

    Payments of borrowings from related parties

    —

    (114
    )

    Payment of finance lease obligations

    (234
    )

    (113
    )

    Proceeds from the issuance of Class B-6a redeemable convertible preferred shares

    —

    3,000

    Proceeds from sale of Common Stock

    —

    25,000

    Common Stock repurchases for employee tax withholding

    —

    (1,273
    )

    Common Stock issued for contract termination

    —

    3,175

    Proceeds from the exercise of Common Stock warrants

    —

    128

    Proceeds from exercise of stock options

    20

    191

    Net cash provided by financing activities
     
    $
    77,175

    $
    72,990

    Increase in cash, cash equivalents and restricted cash

    19,244

    1,519

    Cash, cash equivalents and restricted cash at beginning of period

    2,431

    912

    Cash, cash equivalents and restricted cash at end of period
     
    $
    21,675

    $
    2,431

The accompanying notes are an integral part of these consolidated financial statements.

75

Surf Air Mobility Inc.

Notes to Consolidated Financial Statements

Note 1. Description of Business OrganizationSurf Air Mobility Inc. (the “Company”), a Delaware corporation, is a regional air mobility platform that aims to transform regional flying.  The Company is currently comprised of its Air Mobility business, and has a goal of further developing and enhancing its service and technology offerings through its Air Technology business.Surf Air Global Limited (“Surf Air”) is a British Virgin Islands holding company and was formed on August 15