Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 21

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 21
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 certain circumstances, a non-U.S. holder might be eligible for refunds or credits of such taxes.
FATCA currently applies to dividends paid on our Common Stock. The U.S. Treasury released proposed Treasury Regulations which, if finalized
in their present form, would eliminate the U.S. federal withholding tax of 30% applicable to the gross proceeds of a sale or other disposition
of our Common Stock. In its preamble to such proposed Treasury Regulations, the U.S. Treasury stated that taxpayers may generally rely
on the proposed Treasury Regulations until final Treasury Regulations are issued. Prospective investors are urged to consult with their
tax advisors regarding the potential implications of FATCA on their investment in our Common Stock.

THE FOREGOING DISCUSSION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TAX ADVICE. PROSPECTIVE INVESTORS SHOULD CONSULT THEIR TAX ADVISORS REGARDING THE PARTICULAR U.S. FEDERAL INCOME TAX CONSEQUENCES TO THEM OF ACQUIRING, OWNING AND DISPOSING OF OUR COMMON STOCK, AS WELL AS ANY TAX CONSEQUENCES ARISING UNDER ANY STATE, LOCAL OR NON-U.S. TAX LAWS AND ANY U.S. FEDERAL NON-INCOME TAX LAWS, OR UNDER ANY APPLICABLE INCOME TAX TREATY.

EACH PROSPECTIVE INVESTOR SHOULD CONSULT ITS TAX ADVISOR REGARDING THE TAX CONSEQUENCES OF PURCHASING, HOLDING, AND DISPOSING OF COMMON STOCK, INCLUDING THE CONSEQUENCES OF ANY RECENT AND PROPOSED CHANGE IN APPLICABLE LAW, AS WELL AS TAX CONSEQUENCES ARISING UNDER ANY STATE, LOCAL, NON-U.S. OR U.S. FEDERAL NON-INCOME TAX LAWS.

<div align='center'>S-12

PLAN OF DISTRIBUTION</div>

General

We have entered into a Sales
Agreement with BofA Securities, Inc. and Jefferies LLC, as Sales Agents, relating to the offer and sale from time to time of shares
of our Common Stock having an aggregate offering price of up to $50,000,000 through the Sales Agents, acting as our agents, or directly
to one or more Sales Agents, acting as principals.

Sales of shares of our Common
Stock, if any, under this prospectus supplement and the accompanying prospectus will be made by any method permitted by law and deemed
to be an “at the market” offering as defined in Rule 415(a)(4) promulgated under