Surf Air Mobility Inc. said Wednesday it plans to pursue a direct listing to go public and that it will no longer merger with special purpose acquisition company Tuscan Holdings Corp. II in a deal that was valued at $1.42 billion when it was announced in May. Surf Air Mobility said it filed a confidential submission of a draft registration statement on form S-1 with the Securities and Exchange Commission for a proposed direct listing of its common stock. Surf Air Mobility specializes in bringing electrified aircraft to market at scale in order to reduce the cost and environmental impact of flying.
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