Company: SRFM
Filing Date: 2025-11-24
Form Type: 424B5
Source: 0001193125-25-293741
Chunk: 11

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-24
Form: 424B5
Chunk 11
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 2,373,247 shares of common stock underlying restricted stock units and performance-based restricted stock units outstanding as of September 30, 2025, pursuant to the 2023 Plan, with a weighted average grant date fair value of $2.80 per share; • 747 shares of common stock issuable upon exercise of preferred share warrants outstanding as of September 30, 2025, with a weighted average exercise price of $267.61; • 114,285 shares of common stock reserved for issuance under the 2023 Plan and the Surf Air Mobility Inc. Employee Stock Purchase Plan; and • 2,048,195 shares of common stock issuable upon exercise of certain private placement warrants and 18,574,297 shares of common stock issuable upon the conversion of the Notes. Furthermore, we may choose to raise additional capital through the sale of equity or convertible debt securities due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. New investors will experience further dilution if any of our outstanding options or warrants are exercised, new options are issued and exercised under our equity incentive plans or we issue additional shares of common stock, other equity securities or convertible debt securities in the future.

<div align='center'>S-10

PLAN OF DISTRIBUTION</div>

A holder of warrants may exercise its warrants in accordance with the terms of the warrant on or before the expiration date of November 12, 2027 by submitting a notice of exercise, properly completed and duly executed, and delivering the aggregate exercise price specified in the notice of exercise, subject to any applicable provisions relating to cashless exercise in accordance with the terms of the warrant.

Our common stock is listed on NYSE under the symbol “SRFM.”

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LEGAL MATTERS</div>

Cleary Gottlieb Steen & Hamilton LLP, San Francisco, California has passed upon the validity of the securities offered hereby.

<div align='center'>EXPERTS</div>

The financial statements of Surf Air Mobility Inc. incorporated in this prospectus supplement by reference to the Annual Report on Form 10-K for the year ended December 31, 2024 have been so incorporated in reliance on the report (which contains an explanatory paragraph relating to the Company’s ability to continue as a going concern as described in Note 1 to the financial statements) of PricewaterhouseCoopers LLP, an independent registered public accounting firm, given on the authority of said firm as