Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 35

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 35
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Amendment No. 1 thereto, dated April 1, 2022, and as further amended by Amendment No. 2 thereto, dated June 7, 2023
(the “WUP Holdings Company Agreement”), we intend to contribute the net proceeds from any sale of the offering of securities
under this prospectus to WUP Holdings, which is the entity through which, together with its subsidiaries, we conduct substantially all
of our business and operations. WUP Holdings will subsequently use the net proceeds from the sale of the securities offered by this
prospectus and the applicable prospectus supplement for general corporate purposes, which may include, but are not limited to, to provide
or supplement working capital, for capital expenditures, for advances to or investments in our subsidiaries, for acquisitions, to redeem
or repay outstanding indebtedness, to pay dividends or to repurchase our outstanding debt or equity securities.

We may temporarily invest
any net proceeds prior to their use for the above purposes in U.S. government or agency obligations, commercial paper, money market funds,
taxable and tax-exempt notes and bonds, variable-rate demand obligations, short-term investment grade securities, bank certificates of
deposit or repurchase agreements collateralized by U.S. government or agency obligations. We may also deposit the net proceeds with banks.

Further details regarding
the use of the net proceeds from the offer and sale of a specific series or class of the securities will be set forth in the applicable
prospectus supplement.

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<div align='center'>DESCRIPTION OF OUR COMMON STOCK</div>

The following summary of the material terms of certain provisions of the securities of Wheels Up is not intended to be a complete summary of the rights and preferences of such securities, and is qualified by reference to our Amended and Restated Certificate of Incorporation, dated as of November 15, 2023 (the “Certificate of Incorporation”), our Amended and Restated By-Laws, effective as of November 15, 2023 (the “By-Laws” and, together with the Certificate of Incorporation, the “Organizational Documents”), the Subscription Agreements (as defined herein), the Warrant Agreement (as defined herein), the Investor Rights Agreement (as defined herein), the 2023 Registration Rights Agreement (as defined herein) and the 2021 Registration Rights Agreement (as defined herein), which are exhibits to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023