Surf Air Mobility (SRFM) has entered into a transformative $100 million strategic transaction for the development and commercialization of its proprietary SurfOS software.
The transaction secures $26 million from new equity issuances specifically for the development and commercialization of SurfOS.
Concurrently with the $26 million equity raise, Surf Air Mobility completed the sale of a $74 million senior secured convertible note to an institutional investor in a private placement.
As part of this transaction, Surf Air Mobility will also issue $6 million of common stock to Palantir Technologies, as a prepayment for continued access to its software and services.
One institutional investor and Surf Air Mobility’s co-founder together with a related party have purchased 6.02M shares of the company’s common stock and warrants to purchase up to 6.02M shares of the company’s common stock exercisable at $3.32 per share, for an aggregate gross purchase price of $20 million.
