Company: SRFM
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001193125-25-275795
Chunk: 24

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-12
Form: 424B5
Chunk 24
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 (II) the accrued and unpaid interest thereon.

Immediately following the closing of the Notes transaction, we are required to register the resale of the shares of common stock issuable upon conversion of the Notes and use reasonable best efforts to cause the applicable registration statement to become effective within 21 days following the closing date. In the event such registration statement ceases to remain continuously effective, the Company is required to pay (i) on the first business day after such event an amount in cash, as partial liquidated damages, equal to the product of 2.0% multiplied by the aggregate principal amount of the Notes then outstanding, and (ii) additional liquidated damages, which will automatically accrue on the principal amount of the Notes then outstanding, at a rate per annum equal to 24.0%, from, and including, the date of the applicable event, to, but excluding the date that a registration statement is available for the resale of the shares of common stock issuable upon conversion of the Notes and all outstanding liquidated damages have been paid;

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provided, however, that liquidated damages with respect to any suspension or termination of a resale registration statement following initial effectiveness shall be payable only through the fifth business day after the liquidated damages begin to accrue.

If certain events of default occur, the holder of the Notes may declare the Notes due and payable for cash in an amount equal to the greater of (A) the sum of (1) any amount paid pursuant to the Letter of Credit (as defined below), (2) 115% of 105% of the then outstanding principal amount of the Notes, after deducting from such principal amount any payment pursuant to the Letter of Credit and (3) accrued and unpaid interest and (B) the sum of (1) 110% of the conversion value of the then outstanding principal amount of the Notes and (2) accrued and unpaid interest (the “Event of Default Acceleration Amount”). In the event the conversion value of the Notes is equal to or less than their principal amount, the Company may instead redeem the Notes in whole or in part or Park Lane, the credit support provider, may purchase the Notes in whole or in part, in either case for a cash price equal to the Company Redemption Price, and the principal amount not redeemed or repurchased shall become due and payable for cash in an amount equal to the Event of Default Acceleration Amount. Upon such acceleration, the holder may draw upon the Letter of Credit (sole