---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-094783"
form_type: "8-K"
ticker: "SRFM"
cik: "0001936224"
company_name: "SURF AIR MOBILITY INC."
filed_at: "2024-08-09T23:59:59+00:00"
generated_at: "2026-05-31T10:33:18.917615+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Surf Air Mobility closes $35.2M mandatory convertible security; cancels 6.3M shares and restores $400M facility

## Summary
- Closed $35.2M mandatory convertible security with GEM, convertible into up to 8M common shares, maturing August 7, 2029.
- GEM delivered 6.3M already-issued shares to cancel, reducing near-term overhang.
- New volume restriction limits GEM sales to 10% of prior day's trading volume.
- Company can redeem all or part of the security at 115% of par to avoid dilution.
- Restored full capacity under $400M share subscription facility for future drawdowns.

## SEC filing metadata
- accession: 0000950170-24-094783
- form_type: 8-K
- ticker: SRFM
- cik: 0001936224
- company_name: SURF AIR MOBILITY INC.
- filed_at: 2024-08-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1936224/000095017024094783/0000950170-24-094783-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1936224/000095017024094783/srfm-20240807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-094783
- JSON: https://secwatch.observer/filing/0000950170-24-094783.json
- Plain text: https://secwatch.observer/filing/0000950170-24-094783.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.