Renaissance Capital logo

Surf Air Mobility Priced, NYSE: SRFM

Regional air travel company focused on electrified aircraft.

Industry: Industrials

Latest Trade: $1.75 +0.11 (+6.7%)

First Day Return: -84.3%

Return from IPO: -98.8%

Industry: Industrials

Surf Air Mobility is building a regional air mobility ecosystem that will aim to sustainably connect the world’s communities. Leveraging the combined operations of Surf Air and Southern, we intend to accelerate the adoption of green flying by developing, together with our commercial partners, hybrid-electric and fully-electric powertrain technology to upgrade existing fleets, and by creating a financing and services infrastructure to enable this transition on an industry-wide level. We believe bringing electrified aircraft to market at scale will substantially reduce the cost and environmental impact of regional flying, and that such reductions are achievable by the end of the decade. Additionally, we believe operating as a publicly traded company and having efficient access to growth capital will allow us to accelerate the implementation of our strategic plan. Surf Air is expanding the category of regional air travel, connecting underutilized regional airports and private terminals to create a "shared private" customer experience and a high frequency "commercial-like" air service, using small turboprop aircraft. Surf Air currently provides a regional air mobility platform with scheduled routes and on-demand charter flights operated by third parties and intends to develop powertrain technology with its commercial partners to electrify existing fleets, starting with a hybrid-electric and a fully-electric variant of the Cessna Grand Caravan EX, which is one of the most prolific family of aircraft in the single engine turboprop category with approximately 3,000 aircraft in use worldwide.
more less
IPO Data
IPO File Date 06/05/2023
Offer Price $20.00
Price Range $20.00 - $20.00
Offer Shares (mm) 20.4
Deal Size ($mm) $0
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 07/27/2023
Offer Price $20.00
Price Range $20.00 - $20.00
Offer Shares (mm) 20.4
Deal Size ($mm) $0
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
Morgan Stanley
Canaccord Genuity
more
Company Data
Headquarters Hawthorne, CA, United States
Founded 2011
Employees at IPO 746
Website www.surfair.com

Surf Air Mobility (SRFM) Performance