Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 78

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 78
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, at the
time of redemption, the warrants are exercisable for a security other than the shares of Common Stock pursuant to the Warrant Agreement,
the warrants may be exercised for such security. At such time as the warrants become exercisable for a security other than the shares
of Common Stock, Wheels Up will use its commercially reasonable efforts to register under the Securities Act the security issuable
upon the exercise of the warrants.

Redemption procedures. A holder of a warrant may notify Wheels Up in writing in the event it elects to be subject to a requirement that
such holder will not have the right to exercise such warrant, to the extent that after giving effect to such exercise, such person (together
with such person’s affiliates), to the warrant agent’s actual knowledge, would beneficially own in excess of 9.8% (or such
other amount as a holder may specify) of the shares of Common Stock issued and outstanding immediately after giving effect to such exercise.

Anti-dilution Adjustments. If the number of issued and outstanding shares of Common Stock is increased by a capitalization or share dividend
payable in shares of Common Stock, or by a split-up of shares of Common Stock or other similar event, then, on the effective date of
such capitalization or share dividend, split-up or similar event, the number of shares of Common Stock issuable on exercise of each warrant
will be increased in proportion to such increase in the issued and outstanding shares of Common Stock. A rights offering made to all
or substantially all of the holders of shares of Common Stock entitling holders to purchase shares of Common Stock at a price less than
the “historical fair market value” (as defined below) will be deemed a share dividend of a number of shares of Common Stock
equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other
equity securities sold in such rights offering that are convertible into or exercisable for shares of Common Stock) and (ii) one
minus the quotient of (x) the price per share of Common Stock paid in such rights offering and (y) the historical fair market
value. For these purposes, (i) if the rights offering is for securities convertible into or exercisable for shares of Common Stock,
in determining the price payable for shares of Common Stock, there will be taken into account any consideration received for such rights,
as well as any additional amount payable upon exercise or conversion