Surf Air Mobility swaps $47 million convertible note into $30 million term note with interest deferred until January 2027

Surf Air Mobility, Inc.

Surf Air Mobility, Inc.

SRFM

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  • Surf Air Mobility refinanced its senior secured convertible note due 2028, cutting outstanding principal to about $16.9 million from about $46.9 million.
  • Remaining balance shifted into a new non-convertible $30 million senior secured term note due 2028, non-amortizing and non-interest bearing until January 2027.
  • New structure cuts monthly amortization payments to as low as $2 million from up to $4 million, payable in cash or stock.


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