Surf Air Sets $20 Reference Price for Today’s NYSE Direct Listing

Surf Air Mobility (SAM) announced that a reference price of $20 per share has been established by the New York Stock Exchange for the expected listing of SAM's Common Stock today.

Registered stockholders including management have registered to sell up to 20.4 million common shares.

The number of shares outstanding upon listing will depend on the actual opening trading price per share. Assuming that the opening trading price per share on the listing date equals the reference price of $20, SAM would have approximately 49.8 million shares outstanding. 

The reference price may differ materially from the actual opening trading price per share on the .

Surf Air Mobility provides a regional air mobility platform with scheduled routes and on-demand charter flights operated by third-party Part 135 charter operators. The company intends to accelerate the adoption of green flying and develop proprietary powertrain technology to electrify existing fleets, reducing operating costs and emissions. 

The comes eight months after the company terminated a merger agreement with Tuscan Holdings II. The SPAC disclosed at the time that if Surf Air completes a direct listing, , a SPAC transaction or a sale by Nov. 14, 2025, Surf Air will issue to Tuscan 600,000 shares and reimburse Tuscan's expenses by issuing an additional 35,000 shares or paying the SPAC $700,000 in cash. Read more.

Source: Surf Air Sets Reference Price for Today's NYSE Direct Listing