BUZZ-Surf Air Mobility drops on $15 mln direct stock deal

Surf Air Mobility, Inc.

Surf Air Mobility, Inc.

SRFM

0.00

** Electric aircraft charter firm Surf Air Mobility SRFM.N shares down 4.4% premarket to $1.30 after announcing $15 mln equity raise

** Hawthorne, California-based firm sells ~13.3 mln shares in direct offering to institutional investors and its co-founder at $1.10

** Offering price represents 19.1% discount to stock's last sale of $1.36 on Fri

** In addition, certain SRFM directors and officers to buy 257,353 shares at $1.36

** SRFM intends to use net offering proceeds to accelerate implementation of its SurfOS software and electrification initiatives and/or the repayment of existing liabilities

** It also announced revised 2026 guidance of adj EBITDA loss of $25-$30 mln, vs prior forecast of adj EBITDA loss of $40-$50 mln, reflecting reduced cost and speed of its software's deployment, and reaffirmed annual rev guidance of $128-$138 mln

** SRFM, which entered into a $15 mln promissory note backed by the equity in its aircraft, has ~76.99 mln shares outstanding for ~$105 mln market cap

** Through Fri close, stock down 30% YTD following 64% plunge in 2025