Surf Air Mobility Receives NYSE Non-Compliance Notice for Sub-$1.00 Share Price

Surf Air Mobility Inc. (SRFM) announced it received a notice from the New York Stock Exchange (NYSE) on July 24, 2026, for non-compliance with the exchange's continued listing standards. The notice was issued because the company's average stock closing price was below $1.00 over a consecutive 30-day trading period. The notice does not have an immediate effect on the company's stock listing.

Key Details

• Non-Compliance Issue: The company violated NYSE Section 802.01C, which requires a minimum average closing price of $1.00 over 30 consecutive trading days.
• Cure Period: SRFM has a six-month period to regain compliance. To do so, its common stock must have a closing price of at least $1.00 and an average closing price of at least $1.00 over the preceding 30 trading days.
• Remediation Plan: The company intends to cure the deficiency. At its annual meeting on July 24, 2026, stockholders approved a reverse stock split at a ratio between 2:1 and 6:1, which could be used to regain compliance.