Surf Air Mobility to Go Public Through $1.42 Billion Merger With Tuscan Holdings Corp. II, Accelerating the Rollout of Industry Leading Hybrid Electric Aircraft

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May 18, 2022

Surf+Air+Mobility+Inc. (“SAM” or the “Company”), a company working to accelerate the adoption of green aviation, and Tuscan Holdings Corp. II (Nasdaq: THCA) (“THCA”), a publicly listed special purpose acquisition company (“SPAC”), jointly announced today that they have entered into a definitive business combination agreement resulting, subject to the satisfaction or waiver of certain closing conditions, in Surf Air Mobility becoming a publicly listed company.