Company: SRFM
Filing Date: 2025-11-12
Form Type: 424B5
Source: 0001193125-25-275795
Chunk: 8

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-12
Form: 424B5
Chunk 8
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 Direct Offering will have no rights as common stockholders until such holders exercise such warrants and acquire our common stock.

Until holders of warrants acquire shares of our common stock upon exercise of such warrants, holders of warrants will have no rights with respect to the shares of our common stock underlying such warrants. Upon exercise of the warrants, the holders will be entitled to exercise the rights of a common stockholder only as to matters for which the record date occurs after the exercise date.

Substantial future sales or other issuances of our common stock could depress the market for our common stock.

Sales of a substantial number of shares of our common stock, or the perception by the market that those sales could occur, could cause the market price of our common stock to decline or could make it more difficult for us to raise funds through the sale of equity in the future.

Concurrently with these offerings, we are offering 2,048,195 shares of common stock and accompanying warrants to purchase up to 2,048,195 shares of common stock to the Private Placement Investors and the Notes in the aggregate principal amount of $74.0 million to the Notes Investor, each in an offering exempt from registration under the Securities Act. In the future, we may sell additional shares of our common stock or equity-linked securities to raise capital.

Future issuances of our common stock or our other equity securities could further depress the market for our common stock. We expect to continue incurring costs associated with research and development with respect to our software and electrification initiatives, and general and administrative costs associated with our operations, and to satisfy our funding requirements, we may need to sell additional equity securities. The sale or the proposed sale of substantial amounts of our common stock or our other equity securities may adversely affect the market price of our common stock and our stock price may decline substantially. Our stockholders may experience substantial dilution and a reduction in the price that they are able to obtain upon sale of their shares. New equity securities issued may have greater rights, preferences or privileges than our existing common stock.

You may experience further dilution if we issue additional equity securities in future transactions, including in any raising of additional capital or restructuring of our indebtedness.

We are selling 2,048,195 shares of common stock and accompanying private placement warrants to purchase up to 2,048,195 shares of common stock to the Private Placement Investors in the Concurrent Offerings, and the Notes to be issued in the Concurrent Offerings are initially convertible into 18,574,297 shares of common stock. In