SURF AIR MOBILITY (SRFM) joint holders report 6.66M shares, 9.99% stake

Rhea-AI Filing Summary

SURF AIR MOBILITY INC. amendment reports beneficial ownership by reporting persons of 6,663,920 shares of Common Stock, representing 9.99% of the class based on 63,223,450 shares outstanding as of November 20, 2025. The statement is jointly filed by Liam Fayed and LamVen LLC.

The filing notes that as part of financing transactions closed on November 12, 2025, LamVen acquired 1,506,024 shares and was issued a warrant to purchase 1,506,024 shares. The 2025 Warrant restricts exercises that would cause beneficial ownership to exceed 9.99%, and LamVen has registration rights related to 3,389,398 shares issuable under a November 14, 2024 warrant.

Insights

Corporate Governance Specialist

Joint reporting shows near-9.99% ownership and ownership limits tied to recent financings.

The filing lists combined beneficial ownership of 6,663,920 shares and a stated ownership cap of 9.99% under the 2025 Warrant. The ownership percentage is calculated using the issuer's reported 63,223,450 shares outstanding as of November 20, 2025.

The 9.99% exercise restriction is a material contractual qualifier; subsequent changes to outstanding shares would change the reported percentage. Future filings may clarify any shifts in beneficial ownership or changes in exercise mechanics.

Capital Markets Analyst

LamVen obtained shares and a warrant in a November 12, 2025 financing; registration and exercise limits are disclosed.

The excerpt states LamVen acquired 1,506,024 shares and received a 2025 Warrant exercisable for 1,506,024 shares, with an exercise cap tied to 9.99%. LamVen also holds registration rights for 3,389,398 shares issuable under a November 14, 2024 warrant.

Cash-flow treatment and timing for any exercises or registrations are not detailed in the excerpt; subsequent issuer filings would show any registered sales or prospectus actions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

SURF AIR MOBILITY INC.

(Name of Issuer)

Common Stock, Par Value $.0001

(Title of Class of Securities)

868927203

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 868927203

1

Names of Reporting Persons

Liam Fayed

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 306,083.00
6	Shared Voting Power 6,357,837.00
7	Sole Dispositive Power 306,083.00
8	Shared Dispositive Power 6,357,837.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,663,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.99 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 868927203

1

Names of Reporting Persons

LamVen LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,357,837.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,357,837.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,357,837.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.53 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SURF AIR MOBILITY INC.
(b)	Address of issuer's principal executive offices: 12111 S. Crenshaw Blvd., Hawthorne, CA 90250
Item 2.
(a)	Name of person filing: This statement on Schedule 13G/A is being jointly filed by (i) Liam Fayed and (ii) LamVen LLC ("LamVen" and, together with Liam Fayed, the "Reporting Persons"). LamVen LLC is an entity affiliated with Mr. Fayed.
(b)	Address or principal business office or, if none, residence: The address of the Reporting Persons is 53 Greenwich Avenue, Second Floor, Greenwich, CT 06830.
(c)	Citizenship: Mr. Fayed is a citizen of the United Kingdom, and LamVen LLC is incorporated under the laws of Delaware.
(d)	Title of class of securities: Common Stock, Par Value $.0001
(e)	CUSIP No.: 868927203
Item 4.	Ownership
(a)	Amount beneficially owned: The Reporting Persons beneficially own 6,663,920 shares of Common Stock, consisting of (i) 306,083 shares of Common Stock beneficially owned by Liam Fayed and (ii) 6,357,837 shares of Common Stock beneficially owned by LamVen and Liam Fayed as of November 12, 2025. As part of financing transactions that closed on November 12, 2025, LamVen acquired 1,506,024 shares of Common Stock and was issued a warrant (the "2025 Warrant") to purchase an aggregate of 1,506,024 shares of Common Stock. The 2025 Warrant provides that LamVen is prohibited from exercising the warrant for such number of shares of Common Stock as would result in beneficial ownership of Common Stock by LamVen (together with any other persons whose beneficial ownership could be aggregated with LamVen's for the purposes of Section 13(d), which includes Liam Fayed) exceeding 9.99% of all outstanding Common Stock, subject to certain exceptions. LamVen LLC is also entitled to certain customary rights with respect to the registration of 3,389,398 shares of common stock issuable upon exercise of a warrant dated November 14, 2024 (the "2024 Warrant"). The number of shares of Common Stock is reported in this statement with reference to the number of shares of outstanding Common Stock as of November 20, 2025. To the extent the number of shares of outstanding Common Stock increases, the number of shares of Common Stock beneficially owned by the Reporting Person would increase. To the extent the number of shares of outstanding Common Stock decreases, the number of shares of Common Stock beneficially owned by the Reporting Person would decrease.
(b)	Percent of class: The information required by Item 4(b) is set forth in Row 11 of the cover page for each of the Reporting Persons and is incorporated herein by reference. Calculated based on 63,223,450 shares of the Common Stock outstanding as of November 20, 2025, as reported in the Issuer's prospectus, filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) on November 24, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Liam Fayed

Signature:	/s/ Liam Fayed
Name/Title:	Liam Fayed
Date:	02/17/2026

LamVen LLC

Signature:	/s/ Liam Fayed
Name/Title:	Liam Fayed, President
Date:	02/17/2026

Comments accompanying signature: Exhibit 99.1 Joint Filing Agreement

FAQ

What percentage of SURF AIR MOBILITY (SRFM) do the reporting persons own?

They report beneficial ownership of 9.99% of Common Stock, based on 63,223,450 shares outstanding as of November 20, 2025. The percentage reflects combined holdings of Liam Fayed and LamVen LLC.

How many shares does LamVen LLC hold according to the filing?

LamVen LLC is reported to beneficially own 6,357,837 shares of Common Stock as of November 12, 2025. This figure is part of the joint total reported by the filing persons.

Did LamVen acquire additional securities in recent financings?

Yes. LamVen acquired 1,506,024 shares and was issued a warrant to purchase 1,506,024 shares in financing transactions that closed on November 12, 2025, as stated in the filing.

Are there exercise or ownership limits tied to the warrants?

The 2025 Warrant restricts exercise to prevent LamVen and aggregated parties from exceeding 9.99% beneficial ownership, subject to certain exceptions described in the filing.

What registration rights does LamVen have?

LamVen is entitled to customary registration rights relating to 3,389,398 shares issuable upon exercise of a warrant dated November 14, 2024, according to the statement.