Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 16

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 16
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 holding our Common Stock as part of a hedging or conversion transaction, straddle, synthetic security, constructive sale, or other risk 
 reduction strategy or integrated investment.                                                                                            |

If a partnership (or an entity
or arrangement that is treated as a partnership for U.S. federal income tax purposes) holds our Common Stock, the U.S. federal
income tax treatment of a partner in the partnership will generally depend on the status of the partner, the activities of the partnership
and certain determinations made at the partner level. Partnerships holding our Common Stock and the partners in such partnerships are
urged to consult their tax advisors about the particular U.S. federal income tax consequences to them of holding and disposing
of our Common Stock.

Definition of Non-U.S. Holder

For purposes of this discussion,
a non-U.S. holder is any beneficial owner of our Common Stock that is neither a “U.S. holder” nor a partnership
(including any entity or arrangement treated as a partnership or that is disregarded from its owner) for U.S. federal income tax purposes.
A U.S. holder is any beneficial owner of our Common Stock that, for U.S. federal income tax purposes, is or is treated as any
of the following:

| · | an                                                            
 individual who is a citizen or resident of the United States; |

| · | a                                                                                                                          
 corporation (or any entity treated as a corporation for U.S. federal income tax purposes) created or organized in or under 
 the laws of the United States, any state thereof or the District of Columbia;                                              |

| · | an                                                                                             
 estate, the income of which is subject to U.S. federal income tax regardless of its source; or |

| · | a                                                                                                                                
 trust (i) whose administration is subject to the primary supervision of a U.S. court, and which has one or more “United States   
 persons” (within the meaning of Section 7701(a)(30) of the Code) that have the authority to control all substantial decisions    
 of the trust, or (ii) that has a valid election in effect under applicable Treasury Regulations to be treated as a United States 
 person.                                                                                                                          |

Distributions on our Common Stock

As of the date of this Prospectus,
we do not anticipate declaring or paying any dividends to holders of our Common Stock in the foreseeable future. However, if we make
cash or other property distributions on our Common Stock (other than certain pro rata distributions of our stock), such distributions