Tuscan Holdings II and Surf Air Mobility (SAM) announced the filing by SAM of an S-4 registration statement outlining their proposed business combination, as well as the previously announced proposed acquisition by SAM of Southern Airways. The deal values the busines combination at $1.42 billion.
As announced in May, the deal is expect to fetch up to $467 million, including committed capital from iHeartMedia, and Partners For Growth, and an equity line from Global Emerging Markets, as well as from THCA’s cash in trust (assuming no redemptions). The deal is also conditioned on the closing of the Southern Airways acquisition.
Surf Air is engaged in electric aviation and air travel. Read more.
