SURF AIR MOBILITY INC. (SRFM): debt financing — Surf Air Mobility secures $15M promissory note from LamVen at 12.5% interest

SURF AIR MOBILITY INC.

Note provides up to $15M, advances capped at $5M per 90-day period; maturity April 20, 2029.
12.5% annual interest, payable monthly in cash or shares of common stock valued at $1.274/share.
$1.5M origination fee due upon initial advance, payable in cash or stock.
Borrowers are subsidiaries Southern Airways Express and Southern Airways Pacific; note is non-recourse to Surf Air Mobility.
Note secured by certain aircraft assets of the Borrowers; restrictions on additional liens on collateral.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SURF AIR MOBILITY INC. incurred loan of up to $15 million with LamVen at 12.5% per annum maturing April 20, 2029.

Instrument: loan
Principal: up to $15 million
Counterparty: LamVen
Rate: 12.5% per annum
Maturity: April 20, 2029
Event: incurrence

Exact text from the filing

the Company and two of its subsidiaries (such subsidiaries, the "Borrowers") entered into a promissory note with LamVen (the “Note”) in an aggregate principal amount of up to $15 million (the “Maximum Principal Amount”). Lender will advance funds (each, an "Advance") on request of the Company or any of the Borrowers; provided such Advances (i) may not exceed $5

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SURF AIR MOBILITY INC. entered into Note with LamVen valued at up to $15 million (effective 2026-04-20).

Action: entry
Agreement: credit facility
Counterparty: LamVen
Value: up to $15 million
Effective: 2026-04-20

Exact text from the filing

the Company and two of its subsidiaries (such subsidiaries, the "Borrowers") entered into a promissory note with LamVen (the “Note”) in an aggregate principal amount of up to $15 million (the “Maximum Principal Amount”).

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SURF AIR MOBILITY INC. filing history →

Source: SEC EDGAR

accession 0001193125-26-177743

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