12:17 PM EST, 11/10/2025 (MT Newswires) -- Surf Air Mobility ( SRFM ) said Monday it has entered into transactions valued at $100 million to accelerate development and commercialization of its SurfOS software platform and strengthen its balance sheet.

The transactions include the sale of a $74 million senior secured convertible note to an institutional investor in a private placement to refinance debt, $26 million in new equity issuances, and issuance of $6 million in shares to Palantir Technologies ( PLTR ) as prepayment for software and services, according to a statement.

The refinancing will reduce annual interest expenses by approximately $5.5 million and lower net debt by 37% to $87.2 million, the company said.

Proceeds from the equity issuances will support the development of three products and scaling of engineering and sales capabilities ahead of a commercial rollout in 2026, the company said.

Surf Air Mobility ( SRFM ) shares fell 4.7% in recent Monday trading, while Palantir ( PLTR ) shares rose 6.8%.

Price: 3.17, Change: -0.16, Percent Change: -4.67