Surf Air Mobility Inc

Bounced 3 times of 1.90 levels triple bounce of the bottom.

Insider buying for Surf Air Mobility (SRFM) has shifted in 2025, from early open-market purchases by management to equity grants and institutional partnerships tied to a $100 million restructuring deal.

Key activity:

– Palantir (Nov 2025): Acquired $6M in SRFM stock in exchange for software services, bringing its stake to ~10%
– Co-Founder (Nov 2025): Participated in a $20M share-and-warrant purchase alongside institutional investors as part of the financing round, a meaningful “skin in the game” signal
– Director Shawn Kirby Pelsinger (Oct 2025): Acquired 63,352 shares via a non-open market transaction, likely equity compensation

Key 2026 catalyst – SurfOS Commercial Launch:
Surf Air plans to move SurfOS from beta (8 active users in late 2025) to full commercial rollout in H1 2026. Success would generate recurring high-margin revenue from third-party operators and validate SRFM’s repositioning from a traditional airline to a tech platform (the core thesis behind Palantir’s ~20% stake).

We closed our position on SRFM. When we saw that the company had filed to issue up to $100M in new shares (with $74M of that still unused) we decided the risk of our stake being diluted wasn’t worth holding on. We took our exit.

New Mixed Shelf Filing $100,000,000 November 12, 2025
Strategic Transaction Allocation ($26,000,000) December 30, 2025
Estimated Remaining Balance ~$74,000,000 January 2026