Surf Air closes on $27 million direct offering

Surf Air Mobility Inc. said it had closed a previously announced registered direct offering for the purchase and sale of 10,800,002 shares of common stock or pre-funded warrants at a purchase price of $2.50 per share.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

Surf Air received approximately $27 million from the offering, before deducting the placement fees and other expenses.

The company currently intends to use the net proceeds from the offering to pay down debts and for general corporate purposes.

You can find its related filing here.

Earlier this month, the flight provider touted progress in its turnaround plan.