secwatch.observer — SEC 8-K summary
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Issuer:     SURF AIR MOBILITY INC. (SRFM)
CIK:        0001936224
Form:       8-K
Filed at:   2023-09-19T23:59:59+00:00
Accession:  0001213900-23-077496
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1936224/000121390023077496/0001213900-23-077496-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1936224/000121390023077496/ea185337-8k_surfair.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-077496

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