Surf Air Mobility Inc. (NYSE: SRFM) announced it has secured $30 million in funding through a combination of a registered direct offering and an asset-backed loan.

The company entered into a securities purchase agreement for the sale of 13,318,181 shares of common stock at $1.10 per share to institutional investors led by the company's co-founder. Additionally, certain directors and officers agreed to purchase 257,353 shares at $1.36 per share, the NYSE closing price on April 17, 2026. The offering is expected to generate approximately $15 million in gross proceeds and close around April 21, 2026.

Simultaneously, Surf Air Mobility secured a $15 million promissory note backed by equity in the company's aircraft fleet. The loan carries a 12.5% interest rate with monthly payments that can be made in cash or company shares at the company's discretion. Within 90 days, the company will pay a $1.5 million origination fee, also payable in cash or shares.

The company stated it intends to use the net proceeds to accelerate implementation of its SurfOS software and electrification initiatives, or to repay existing liabilities.

A.G.P./Alliance Global Partners is serving as financial advisor for the transaction.

The securities are being offered under a shelf registration statement filed with the Securities and Exchange Commission in November 2025.

Surf Air Mobility operates what it describes as one of the largest commuter airlines in the United States by scheduled departures and develops air mobility technology including AI-enabled software and electrification programs.