Company: SRFM
Filing Date: 2025-05-13
Form Type: DEF 14A
Source: 0001140361-25-018647
Chunk: 37

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-13
Form: DEF 14A
Chunk 37
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 equity compensation plans); expanding our business through the acquisition of other businesses and for other purposes. However, at present, we do not have any specific plans, arrangements, understandings or commitments for the additional shares that would become available. Accordingly, for these and other reasons, the Board believes that a Reverse Stock Split is in the best interests of the Company and our stockholders. Criteria to be Used for Determining Whether to Implement a Reverse Stock Split Proposal 3 gives the Board the sole discretion to select a Reverse Stock Split ratio from within a range of whole numbers between and including 2:1 and 5:1, based on the Board’s then-current assessment of the factors below and the best interests of the Company and its stockholder. In determining whether to implement the Reverse Stock Split and, if so implemented, which Reverse Stock Split ratio to select within the Ratio Range, the Board may consider, among other factors:

| • | the historical trading price and trading volume of our common stock; |

| • | the then-prevailing trading price and trading volume of our common stock and the expected impact of the Reverse Stock Split on the trading market in the short- and long-term; |

| • | the continued listing requirements for our common stock on the NYSE and other rules and guidance from the NYSE; |

| • | actual or forecasted results of operations; |

| • | the Company’s additional funding requirements; |

| • | the number of shares of common stock outstanding and the amount of the Company’s authorized but unissued common stock; |

| • | which Reverse Stock Split ratio would result in the least administrative cost to us; and |

| • | prevailing industry, market and economic conditions. |

Certain Risks and Potential Disadvantages Associated with a Reverse Stock Split We cannot assure stockholders that the proposed Reverse Stock Split will increase our stock price as expected or allow us to maintain compliance with NYSE listing requirements. The effect of a Reverse Stock Split on our stock price cannot be predicted with any certainty, and the history of reverse stock splits for other companies in our industry is varied, particularly since some investors may view a reverse stock split negatively. It is possible that our stock price after a Reverse Stock Split will not increase in the same proportion as the reduction in the number of shares outstanding, causing a reduction in the Company’s overall market capitalization. Further, even if we implement a Reverse Stock Split, our stock price may decline due to various factors, including our future performance and general industry, market and economic conditions. This