Surf Air Mobility receives NYSE non-compliance notice over stock price

Surf Air Mobility Inc. (NYSE: SRFM) received a notice from the New York Stock Exchange on July 24, 2026, stating the company is not in compliance with Section 802.01C of the NYSE Listed Company Manual.

The notice was triggered because the average closing price of Surf Air Mobility's common stock fell below $1.00 over a consecutive 30 trading-day period. The company's shares will continue to trade on the NYSE while it works to resolve the deficiency.

Surf Air Mobility said it plans to notify the NYSE within 10 business days of its intent to regain compliance. Under NYSE rules, the company has six months to cure the deficiency. Compliance can be restored if the stock closes at or above $1.00 on the last trading day of any calendar month during the cure period, with an average closing price of at least $1.00 over the preceding 30 trading days.

The company said it intends to regain compliance organically but may also consider a reverse stock split if necessary. Shareholders approved authorization for a reverse stock split at the company's annual meeting on July 24, 2026. The company noted that shareholder approval does not commit it to that course of action.

Surf Air Mobility said the notice is not expected to affect its day-to-day business operations or its reporting obligations to the U.S. Securities and Exchange Commission.

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