Surf Air Mobility Reports Unregistered Equity Sale
Ticker: SRFM · Form: 8-K · Filed: Dec 11, 2024 · CIK: 1936224
Sentiment: neutral
Topics: unregistered-sale, equity-securities
Related Tickers: SRFM
TL;DR
SRFM sold unregistered equity, terms TBD.
AI Summary
On December 9, 2024, Surf Air Mobility Inc. filed an 8-K report detailing an unregistered sale of equity securities. The filing does not specify the exact number of shares sold or the total dollar amount raised in this transaction.
Why It Matters
This filing indicates a potential dilution of existing shares and raises questions about the terms and valuation of the unregistered sale.
Risk Assessment
Risk Level: medium — Unregistered sales can sometimes indicate financial distress or a need for capital on less favorable terms, potentially impacting existing shareholders.
Key Players & Entities
- SURF AIR MOBILITY INC. (company) — Registrant
- December 9, 2024 (date) — Date of earliest event reported
- 12111 S. Crenshaw Blvd. Hawthorne, CA 90250 (address) — Principal executive offices
FAQ
What type of equity securities were sold?
The filing states 'Unregistered Sales of Equity Securities' but does not specify the exact type of securities.
What was the total dollar amount of the unregistered sale?
The filing does not disclose the total dollar amount of the unregistered sale.
How many shares were sold in this unregistered offering?
The filing does not specify the number of shares sold.
Were there any specific purchasers identified for these unregistered securities?
The filing does not identify any specific purchasers of the unregistered equity securities.
What is the rationale behind conducting an unregistered sale of equity securities?
The filing does not provide the rationale for the unregistered sale of equity securities.
Filing Stats: 438 words · 2 min read · ~1 pages · Grade level 11.8 · Accepted 2024-12-11 17:21:50
Key Financial Figures
- $0.0001 — h Registered: Common stock, par value $0.0001 per share SRFM New York Stock Excha
- $2.0 million — or in-kind services worth approximately $2.0 million. In issuing shares of its common stoc
Filing Documents
- srfm-20241209.htm (8-K) — 48KB
- 0000950170-24-135472.txt ( ) — 219KB
- srfm-20241209.xsd (EX-101.SCH) — 60KB
- srfm-20241209_htm.xml (XML) — 5KB
02 Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities On December 9, 2024, Surf Air Mobility Inc. (the "Company") issued and sold to Palantir Technologies Inc. an aggregate of 446,830 shares of the Company's common stock for in-kind services worth approximately $2.0 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: December 11, 2024 By: /s/ Deanna White Name: Deanna White Title: Chief Executive Officer