Surf Air Mobility Raises $1.5M in Private Placement
Ticker: SRFM · Form: 8-K · Filed: Oct 8, 2024 · CIK: 1936224
Sentiment: neutral
Topics: private-placement, equity, unregistered-securities
TL;DR
SRFM closed a $1.5M private placement at $1/share, no registration needed.
AI Summary
Surf Air Mobility Inc. announced on October 2, 2024, the closing of a private placement of 1,500,000 shares of its common stock at a purchase price of $1.00 per share, resulting in gross proceeds of $1,500,000. The company also issued warrants to purchase an aggregate of 1,500,000 shares of common stock. This offering was conducted without a registration statement being filed.
Why It Matters
This capital infusion provides Surf Air Mobility with additional funds, potentially for operational expansion or development, while the unregistered nature of the sale may indicate a strategic move to expedite funding.
Risk Assessment
Risk Level: medium — The sale of unregistered securities carries inherent risks related to liquidity and potential future dilution.
Key Numbers
- $1.5M — Gross Proceeds (Raised in private placement)
- $1.00 — Price Per Share (Purchase price in private placement)
- 1,500,000 — Shares Sold (Common stock sold in private placement)
Key Players & Entities
- Surf Air Mobility Inc. (company) — Registrant
- October 2, 2024 (date) — Date of Report
- $1,500,000 (dollar_amount) — Gross Proceeds
- $1.00 (dollar_amount) — Purchase Price Per Share
- 1,500,000 (dollar_amount) — Number of Shares Sold
- 1,500,000 (dollar_amount) — Number of Warrants Issued
FAQ
What were the gross proceeds from the private placement?
The gross proceeds from the private placement were $1,500,000.
At what price per share was the common stock sold?
The common stock was sold at a purchase price of $1.00 per share.
How many shares of common stock were sold?
1,500,000 shares of common stock were sold.
Were warrants issued in connection with this private placement?
Yes, warrants to purchase an aggregate of 1,500,000 shares of common stock were issued.
Was a registration statement filed for this offering?
No, the offering was conducted without a registration statement being filed.
Filing Stats: 435 words · 2 min read · ~1 pages · Grade level 11.7 · Accepted 2024-10-08 16:49:02
Key Financial Figures
- $0.0001 — h Registered: Common stock, par value $0.0001 per share SRFM New York Stock Excha
- $1.6 million — common stock for in-kind services worth $1.6 million. In issuing shares of its common stoc
Filing Documents
- srfm-20241002.htm (8-K) — 46KB
- 0000950170-24-113568.txt ( ) — 217KB
- srfm-20241002.xsd (EX-101.SCH) — 60KB
- srfm-20241002_htm.xml (XML) — 5KB
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities On October 2, 2024, Surf Air Mobility Inc. (the "Company") issued to Palantir Technologies Inc. an aggregate of 1,270,869 shares of the Company's common stock for in-kind services worth $1.6 million. In issuing shares of its common stock the Company relied upon the exemption from securities registration afforded by Rule 506 of Regulation D as promulgated by the SEC under the Securities Act of 1933, as amended (the "Securities Act") and/or Section 4(2) of the Securities Act.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. SURF AIR MOBILITY INC. Date: October 8, 2024 By: /s/ Oliver Reeves Name: Oliver Reeves Title: Chief Financial Officer