Surf Air Mobility amends $400M GEM share facility; first draw $7.5M, aggregate $100M

SURF AIR MOBILITY INC.

Amendment No. 4 sets first draw down at up to $7.5M; subsequent draws up to $25M each, aggregate $100M.
Commitment fee of 4 million shares payable with first draw down; shares exempt from registration under Section 4(a)(2).
Third Amendment to Textron data license: $25M initiation fee due in four installments starting Sep 29, 2023 through Jun 28, 2024.
Publicly filed S-1 registration for up to 25 million shares to satisfy conditions of share subscription facility.
Maximum aggregate facility size remains $400 million over specified term; facility is at Company's option.

Key facts

Extracted from this filing and checked against the source text.

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

SURF AIR MOBILITY INC. amended Amendment No. 4 to the Amended and Restated Share Purchase Agreement with GEM Global Yield LLC SCS and GEM Yield Bahamas Limited (effective 2023-09-18).

Action: amendment
Agreement: equity purchase
Counterparty: GEM Global Yield LLC SCS and GEM Yield Bahamas Limited
Effective: 2023-09-18

Exact text from the filing

On September 18, 2023, the Parties entered into that certain Amendment No. 4 to the Amended and Restated Share Purchase Agreement (“ Amendment No. 4 ”).

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

SURF AIR MOBILITY INC. amended Third Amendment to Data License Agreement with Textron Aviation Inc. and Textron Innovations Inc. valued at $25 million will be due in four installments (effective 2023-09-18).

Action: amendment
Agreement: license
Counterparty: Textron Aviation Inc. and Textron Innovations Inc.
Value: $25 million will be due in four installments
Effective: 2023-09-18

Exact text from the filing

the Company, Textron Aviation Inc. and Textron Innovations Inc. entered into a Third Amendment to Data License Agreement (the “ Third Amendment ”), that amends that certain data license agreement entered into on September 15, 2022 (the “ DLA ”).

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SURF AIR MOBILITY INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-077496

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