Company: SRFM
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001193125-25-273369
Chunk: 16

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-11-10
Form: 424B5
Chunk 16
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 be issued in connection with the exercise of a warrant. In lieu of fractional shares, we will pay cash or round up to the next whole share.

Forced Exercise. Subject to the satisfaction of equity conditions specified in the warrants and the Beneficial Ownership Limitation, we will be permitted to cause the exercise of the warrants at any time if the last closing sale price for our common stock is at or above 150% of the exercise price on each of the 20 consecutive trading days beginning after the original issuance date of the warrants and ending on the date upon which the forced exercise notice is delivered to the holder. We may not deliver more than one notice, whether a forced exercise notice with respect to a forced exercise, or a forced conversion notice with respect to the Notes, in any rolling ten day trading period.

Cashless Exercise. The warrants will be initially exercisable solely on a cashless basis but may become exercisable against payment of the exercise price if we subsequently file, and cause to become effective, a registration statement registering such exercise and notify the holder.

If at the time of exercise of any warrant there is no effective registration statement registering, or the prospectus contained therein is not available for, the issuance or resale of the shares of the common stock to be issued upon exercise of the warrants, then instead of payment of the exercise price in immediately available funds, the holder may exercise the warrant through a cashless exercise, in which case the holder would receive upon such exercise the net number of shares of the common stock determined according to the formula set forth in the warrants.

Transferability. Subject to applicable laws, a warrant may be transferred at the option of the holder upon surrender of the warrant to us together with the appropriate instruments of transfer.

Exchange Listing. There is no trading market available for the warrants on any securities exchange or nationally recognized trading system. We do not intend to list the warrants on any securities exchange or nationally recognized trading system.

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Right as a Stockholder. Except as otherwise provided in the warrants or by virtue of such holder’s ownership of shares of our common stock, the holders of the warrants do not have the rights or privileges of holders of our common stock, including any voting rights, until they exercise their warrants.

Fundamental Transaction. In the event of a fundamental transaction, as described in the warrants and generally including any reorganization, recapitalization or reclassification of our common stock, the sale, transfer or other disposition of all or substantially all of our properties or assets,