FutureFlight
Surf Air Mobility Goes It Alone With Share Flotation After SPAC Deal Collapses
The flight booking platform and special purpose acquisition company Tuscan Holdings Corporation II have abandoned their plants for a $1.42 billion merger.
Flight booking platform Surf Air Mobility wants to be a leader in electric aviation.
Flight booking platform Surf Air Mobility wants to be a leader in electric aviation. (Image: Surf Air)

Surf Air Mobility’s strategic move into electric aviation took a new twist this week when the flight booking platform said it will be going public on its own following the termination of its $1.42 billion merger with special purpose acquisition company (SPAC) Tuscan Holdings Corporation II. The “mutually agreed” termination was approved by both companies’ board of directors, according to a filing with the Securities and Exchange Commission (SEC).

In a separate, confidential filing S-1 with the SEC this week, Surf Air announced plans to pursue a direct listing of its common stock. The plan awaits approval from the SEC. A Surf Air spokeswoman told AIN that the company could not comment further on the termination of the Tuscan Holdings merger nor its plans for a direct listing.