Surf Air Mobility to list prior to merger with Southern Airways

Surf Air Mobility (SAM) is planning to go public through a direct listing on the New York Stock Exchange, prior to its merger with Southern Airways Corporation. As per the US Securities and Exchange Commission (SEC) filing, Southern Airways Corporation and its subsidiaries will become a will become a wholly-owned subsidiary of SAM. Southern Airways stockholders will receive SAM’s common stock equivalent to $81.25 million or 12% of the fully-diluted shares of the common stock upon listing. Surf Air will remain a wholly-owned subsidiary of SAM. The parent, SAM will directly or indirectly own all of the equity securities, assets,