Surf Air Mobility Raises $15 Million in Direct Offering at $1.10 / Share & Secures $15 Million Asset-Backed Loan, Revises 2026 EBITDA Guidance
Surf Air (SRFM) shares are down nearly 9% at $1.24 as of 12.15ET.
(Hawthorne, California) Surf Air Mobility Inc. (NYSE:SRFM) entered into a securities purchase agreement for a registered direct offering of 13,318,181 shares of common stock at $1.10 per share, according to a press release statement – with the company’s co-founders leading the group of institutional investors participating in the offering – and has also secured a $15 million asset-backed loan.
Image of a Surf Air Mobility aircraft in flight courtesy of Surf Air Mobility.
The full press release can be found here.
Additionally, company insiders (directors and officers) will buy an additional 257,353 shares at $1.36 per share (April 17 closing price), according to Seeking Alpha.
The offering is scheduled to close around April 21, 2026, with proceeds funding Surf Air’s SurfOS software rollout, electrification initiatives and/or debt repayment.
Additionally, Surf Air revised its 2026 guidance for Adjusted EBITDA loss to $30 to $25 million, an approximate 40% improvement from the prior Adjusted EBITDA loss of $50 to $40 million, and revenue guidance remained unchanged at $128-$138 million, a 20-30% growth over 2025, according to today’s press release.
As for plans for 2026, the press release highlights the following targeted milestones as worth watching:
- “Digitalization and optimization of our airline operations
- Surf On Demand private charter revenue and margin expansion
- 100 brokers onboarded to Powered by Surf On Demand
- 10 OperatorOS LOIs signed, 5 operators live
- First SurfOS Enterprise contracts signed
- BETA electric cargo demonstration flights in Hawaii”
Shares of Surf Air Mobility are down nearly 9% at $1.24 as of 12.15ET.
** Not investment advice; neither The FLY Report nor FLYJETS – nor any associated individual – is a registered investment adviser.
