Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 72

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 72
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 prior to the date on      
 which we send the notice of redemption to the warrant holders (which is referred to as the    
 “Reference Value”) equals or exceeds $180.00 per whole share (as adjusted for                 
 adjustments to the number of shares issuable upon exercise or the exercise price of a warrant 
 described under the heading “- Anti-dilution Adjustments”).                                   |

We will not redeem the warrants
as described above unless a registration statement under the Securities Act covering the issuance of the shares of Common Stock
issuable upon exercise of the warrants is then effective and a current prospectus relating to those shares of Common Stock is available
throughout the 30-day redemption period.

If and when the warrants
become redeemable by Wheels Up, Wheels Up may exercise its redemption right even if it is unable to register or qualify the underlying
securities for sale under all applicable state securities laws.

Wheels Up has established
the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant
premium to the warrant exercise price. If the foregoing conditions are satisfied and Wheels Up issues a notice of redemption of the warrants,
each warrant holder will be entitled to exercise his, her or its warrant prior to the scheduled redemption date. However, the price of
the shares of Common Stock may fall below the $180.00 redemption trigger price (as adjusted for adjustments to the number of shares issuable
upon exercise or the exercise price of a warrant as described under the heading “- Anti-dilution Adjustments”), as
well as the $115.00 (for whole shares) warrant exercise price, after the redemption notice is issued.

Redemption of warrants when the price per whole share of Common Stock equals or exceeds $100.00. Once the warrants become exercisable,
we may redeem the outstanding warrants:

| · | in                     
 whole and not in part; |

| · | at                                                                                           
 $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption provided     
 that holders will be able to exercise their warrants on a cashless basis prior to redemption 
 and receive that number of shares determined by reference to the table below, based on the   
 redemption date and the “fair market value” of shares of Common Stock (as defined            
 below) except as otherwise described below;                                                  |

| · | if,                                                                                           
 and only if, the Reference Value equals or exceeds $100.00 per whole share (as adjusted for   
 adjustments to