Surf Air Mobility, a regional air travel company focused on electrified aircraft, is expected to begin trading on the NYSE on Thursday, July 27, 2023, according to an amendment filed with the SEC on Thursday. The company originally planned to begin trading on July 11. In its latest filing, the company also updated the number of shares of common stock to be registered by existing shareholders.
The Registered Stockholders plan to sell up to 23.7 million Class A shares. The Registered Stockholders represent all major existing shareholders, including management. In addition to the shares being registered by insiders, the company is also registering shares to be distributed to existing shareholders in connection with its reorganization and acquisition of Southern Airways.
Surf Air Mobility was founded in 2011 and booked $21 million in revenue for the 12 months ended March 31, 2023. It plans to list on the NYSE under the symbol SRFM. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Morgan Stanley, Canaccord Genuity, Moelis & Company, Baird, and Sanford Bernstein will serve as financial advisors.
