Surf Air Mobility to sell 10.8M shares at $2.50 in registered direct offering

Surf Air Mobility (SRFM) announced that it has entered into definitive agreements for the purchase and sale of 10,800,002 shares of common stock or pre-funded warrants in lieu thereof at a purchase price of $2.50 per share or pre-funded warrant in lieu thereof in a registered direct offering. The offering is expected to close on or about June 26, subject to the satisfaction of customary closing conditions. H.C. Wainwright is acting as the exclusive placement agent for the offering. The gross proceeds to the company from the offering are expected to be approximately $27M, before deducting the placement agent’s fees and other offering expenses payable by the company. “The company currently intends to use the net proceeds from the offering to pay down certain indebtedness and for general corporate purposes,” it stated.