Financing ·
On June 30, 2026, Surf Air Mobility Inc. executed several financing transactions
SRFMSurf Air Mobility Inc.
On June 30, 2026, Surf Air Mobility Inc. executed several financing transactions. The company exchanged a Senior Secured Convertible Note with an outstanding balance of $46,857,142.89 for a new $16,857,142.89 Senior Secured Convertible Note due 2027 (initial conversion price ~$1.116) and a $30,000,000 Senior Secured Term Note due 2028 (12% interest). Additionally, subsidiaries issued $21,600,000 in Senior Secured Debentures maturing June 30, 2031, at 13.5% interest, secured by aircraft assets. The company also reduced the exercise price of existing warrants from $3.32 to $1.12 and amended a reimbursement agreement with Park Lane Investments LLC to include a $14,000,000 letter of credit. The company operates in the aviation industry, providing air mobility services.