Surf Air Mobility Inc. on Monday filed plans to list its stock for trading under the symbol SRFM in an upcoming initial public offering on the New York Stock Exchange. The Hawthorne, Calif., company specializes in proprietary, hybrid-electric and fully electric powertrain technology for new aircraft and existing fleet upgrades. The company reported a first-quarter net loss of $20.6 million on revenue of $5.51 million, compared to a net loss of $10.7 million and revenue of $4.82 million in the year-ago quarter. Surf Air Mobility said it is listing its common stock on the NYSE without a traditional underwritten initial public offering in what the company described as a “novel method for commencing public trading.” The company said the trading volume and price per share of its common stock may be more volatile than if shares of it common stock were initially listed in connection with an underwritten initial public offering.
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