Loan & DebtAug 11, 2026, 09:07 AM
Surf Air Mobility Completes $14M Debenture Issuance
AI Summary
Surf Air Mobility Inc. completed the issuance of the second tranche of its Senior Secured Debentures, totaling approximately $14 million, on August 10, 2026. This follows the satisfaction of closing conditions for the previously announced $21.6 million Secured Purchase Agreement. The proceeds from this tranche will be used for general working capital, and the debentures are now subject to a Subordination and Intercreditor Agreement.
Key Highlights
- Completed issuance of approximately $14 million second tranche of Senior Secured Debentures.
- Total aggregate face amount of Secured Debentures is $21.6 million.
- Proceeds from the second tranche will be used for general working capital.
- Closing conditions for the debentures were satisfied on August 10, 2026.
- Debentures are now subject to a Subordination and Intercreditor Agreement dated August 10, 2026.
- Company has existing Senior Secured Convertible Note of $16.86 million.
- Company has existing Senior Secured Term Note of $30 million.
Price Impact
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