Tuesday, September 19, 2023

Surf Air Mobility Raises $7.5M

Los Angeles-based regional personal air travel provider Surf Air said this morning that it has raised $7.5M from Luxembourg-based Gem Global Yield LLC SCS (GGY), as part of a deal to further fund the company. The company said it filed an S-1 as part of the fundraising, to "satisfy certain conditions" associated with the effort. The company said that Surf Air Mobility has an option to direct GGY to purchase up to a maximum, aggregate purchase price of $400M, with advances of up to $25M under a "share subscription facility".