Surf Air Mobility Files Form S-1 Registration Statement With The SEC Registering Up To 300M Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Surf Air Mobility Inc. (NYSE:SRFM) has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission, registering up to 300 million shares of Common Stock. This is part of the company's Share Subscription Facility with GEM, under which it has access to a total of $400 million. The company currently has $392.5 million remaining under this agreement. The registered shares will be used to request advances under the share subscription facility and satisfy other current obligations to register shares previously issued to GEM.
November 10, 2023 | 12:07 am
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Surf Air Mobility's registration of up to 300 million shares could potentially dilute the value of existing shares. However, it also provides the company with a means to raise capital for its operations.
The registration of additional shares could lead to dilution of the value of existing shares, which may negatively impact the stock price. However, the ability to raise capital through the Share Subscription Facility could support the company's operations and potentially lead to positive long-term outcomes.
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