Surf Air Mobility to refinance existing senior secured convertible note
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Background ✨
Surf Air Mobility raised further capital in 2026, including a registered direct offering for 13.3 million shares (plus 257,353 shares to be bought by directors and officers) expected to gross about USD15 million, alongside a non-dilutive USD15 million promissory note backed by equity in its aircraft.1 It also improved 2026 adjusted EBITDA loss guidance to USD30 million-USD25 million while reaffirming revenue guidance of USD128 million-USD138 million, citing SurfOS-driven cost reductions and automation.2