Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 36

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 36
---
, which is incorporated herein by reference. Stockholders are urged to read the Organizational Documents, each as in effect as of the date that the registration statement of which this prospectus is a part is filed with the SEC in their entirety for a complete description of the powers, preferences and rights of our securities.

Capital Stock

We urge you to read the:
(i) Organizational Documents; (ii) Investment and Investor Rights Agreement, dated as of September 20, 2023, by and
among Wheels Up and the entities listed on Schedule A thereto from time to time (collectively, the “Investors”) (as amended
by Amendment No. 1 thereto, dated as of November 15, 2023, and Amendment No. 2 thereto, dated as of September 22, 2024,
and as supplemented by the several Joinders thereto, the “Investor Rights Agreement”); (iii) Registration Rights Agreement,
dated as of September 20, 2023, by and among Wheels Up and the equity holders set forth on Schedule 1 thereto from time to
time (as supplemented by the several Joinders thereto, the “2023 Registration Rights Agreement”); and (iv) Amended and
Restated Registration Rights Agreement, dated as of July 13, 2021, by and among Wheels Up, Aspirational Consumer Lifestyle Sponsor
LLC, a Cayman Islands limited liability company (the “Sponsor”), certain former equityholders of WUP Holdings and the other
parties thereto (the “2021 Registration Rights Agreement”).

The total amount of our authorized capital stock consists of 1,500,000,000 shares of Common Stock and 25,000,000 shares of preferred stock, $0.0001 par value per share. The following summary describes the material provisions of our capital stock.As of December 26, 2024,
there were 697,902,646 shares of Common Stock issued and outstanding and no shares of our preferred stock outstanding. The number of
shares of our Common Stock outstanding does not include shares of our Common Stock issuable upon the exercise of outstanding options
or the vesting of any equity awards under our equity incentive plans, upon the exchange of profits interests related to Wheels Up MIP LLC,
or upon exercise of any warrants or shares that may become issuable if the earnout is achieved.

Generally, holders of Common
Stock are not entitled to preemptive or other similar subscription rights to