Company: SRFM
Filing Date: 2025-04-01
Form Type: 424B5
Source: 0000950170-25-048087
Chunk: 4

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-04-01
Form: 424B5
Chunk 4
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, 2025, and excludes:

2,689,131 shares of common stock issuable upon exercise of stock options outstanding as of March 28, 2025, pursuant to the Surf Air Global Limited 2016 Equity Incentive Plan (the “2016 Plan”) and the Surf Air Mobility Inc. 2023 Equity Incentive Plan (the “2023 Plan”), with a weighted average exercise price of $7.80 per share;

719,553 shares of common stock underlying restricted stock units and performance-based restricted stock units outstanding as of March 28, 2025, pursuant to the 2016 Plan and the 2023 Plan;

17,276 shares of common stock issuable upon exercise of preferred share warrants outstanding as of March 28, 2025, with a weighted average exercise price of $267.61; and

114,285 shares of common stock reserved for issuance under the 2023 Plan and the Surf Air Mobility Inc. Employee Stock Purchase Plan.

<div align='center'>S-3

RISK FACTORS</div>

Investing in our shares of common stock involves a high degree of risk. Before investing in our securities, you should consider carefully the risks described below, together with the other information contained in this prospectus supplement or incorporated by reference in this prospectus supplement, including the risks and uncertainties discussed under “Risk Factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are incorporated by reference herein in their entirety. If any of the risks incorporated by reference herein or set forth below occur, our business, financial condition, results of operations and future growth prospects could be materially and adversely affected. In these circumstances, the market price of our common stock could decline, and you may lose all or part of your investment.

Risks Related to this Offering

The offering price was set by our board of directors (the “Board”) and does not necessarily indicate the actual or market value of our common stock.

Our Board approved the offering price and other terms of this offering after considering, among other things: the number of shares authorized in our certificate of incorporation; the current market price of our common stock; trading prices of our common stock over time; the volatility of our common stock; our current financial condition and the prospects for our future cash flows; the availability of and likely cost of capital of other potential sources of capital; and market and economic conditions at the time of the offering. The offering price is not intended to bear