Surf Air Mobility Secures $50 Million Financing to Fund Transformation Plan and Path to Profitability
Surf Air Mobility Inc. (SRFM)
Company Research
Source: Business Wire
Company Receives Four Year Term Loan from Comvest Partners, a Multi-Billion-Dollar Investment Management FirmAt SOFR +5%, Term Loan Lowers Company’s Cost of Capital and Minimizes DilutionRobust Cash Position Enables New Management Team to Advance Four Phase Transformation Plan LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. (NYSE: SRFM) (“the Company”), a leading regional air mobility platform, today announced the closing and funding of its new Senior Secured Term Loan from Comvest Partners, a multi-billion-dollar investment management firm. The new facility is comprised of (i) a $44.5 million term loan, which was fully funded today, and (ii) a $5.5 million delayed draw term loan to be used for interest payments over the first 18 months.Oliver Reeves, Chief Financial Officer, said: “Today we have fundamentally restructured our balance sheet – addressing our near-term liquidity constraints, lowering our cost of capital, minimizing potential dilution under our equity share subsc
Show less
Read more
Impact Snapshot
Event Time:
SRFM
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
SRFM alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
SRFM alerts
High impacting Surf Air Mobility Inc. news events
Weekly update
A roundup of the hottest topics
SRFM
News
- Surf Air Mobility Unveils Four-Phase Transformation Plan and Updated Investor PresentationBusiness Wire
- Surf Air Mobility Inc. (NYSE: SRFM) had its "hold" rating re-affirmed by analysts at Canaccord Genuity Group Inc.. They now have a $2.20 price target on the stock.MarketBeat
- Surf Air Mobility Reports Third Quarter Financial Results, Exceeding Revenue and Adjusted EBITDA Expectations [Yahoo! Finance]Yahoo! Finance
- Surf Air Mobility Reports Third Quarter Financial Results, Exceeding Revenue and Adjusted EBITDA ExpectationsBusiness Wire
- Surf Air Mobility Secures $50 Million Financing to Fund Transformation Plan and Path to Profitability [Yahoo! Finance]Yahoo! Finance
SRFM
Earnings
- 11/14/24 - Beat
SRFM
Sec Filings
- 11/14/24 - Form 10-Q
- 11/14/24 - Form 8-K
- 11/14/24 - Form 8-K
- SRFM's page on the SEC website