Surf Air Mobility Inc. (NYSE: SRFM) completed a registered direct offering of common stock that raised approximately $15 million in gross proceeds, the company announced.

The offering included 13,318,181 shares sold to institutional investors at $1.10 per share and 257,353 shares purchased by company directors and officers at $1.36 per share, which was the NYSE closing price on April 17, 2026.

The company plans to use net proceeds to accelerate implementation of its SurfOS software and electrification initiatives or to repay existing liabilities. A.G.P./Alliance Global Partners served as financial advisor for the transaction.

The securities were offered through a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on November 13, 2025, amended on November 17, 2025, and declared effective on November 19, 2025.

Surf Air Mobility operates what it describes as one of the largest commuter airlines in the United States by scheduled departures. The Los Angeles-based company provides air mobility platform services and develops software designed to support modernization of air operations.