Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 12

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 12
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 Common Stock         
 after this offering                                                   |     | $ |  0.09 |   |     |   |       |   |
| As adjusted net tangible book value per share of Common Stock         
 as of June 30, 2025 after giving effect to this offering              |     |   |       |   |     | $ | (0.84 | ) |
| Dilution per share of Common Stock to investors participating         
 in this offering                                                      |     |   |       |   |     | $ |  3.75 |   |

The number of shares of our
Common Stock to be outstanding immediately after this offering is based on 698,993,636 shares of Common Stock outstanding as of June 30, 2025.
Unless specifically stated otherwise, the information in this prospectus supplement is as of June 30, 2025 and excludes the
following outstanding securities and rights, as of such date:

| · | 810,309                                                                             
 shares of Common Stock issued but not outstanding that were held as treasury stock; |

| · | 2,880,861 shares                                                                             
 of our Common Stock issuable upon the exchange of legacy profits interests outstanding as    
 of June 30, 2025, all of which were eligible to be exercised; provided, however,             
 that such amount of profits interests represents the maximum number of profits interests     
 outstanding or that could be realized upon vesting and immediately exchanged for the maximum 
 number of shares of Common Stock and the actual number of shares of Common Stock received    
 upon exchange of such profits interests will depend on the trading price per share of Common 
 Stock at the time of such exchange on or prior to July 13, 2031;                             |

| · | 886,810 shares                                                                                   
 of our Common Stock issuable upon the exercise of stock options outstanding as of June 30, 2025, 
 at a weighted average exercise price of $76.49 per share, all of which were eligible to be       
 exercised;                                                                                       |

| · | 21,917,191 shares                                                                          
 of our Common Stock issuable upon the vesting and settlement of restricted stock units and 
 performance-based restricted stock units outstanding as of June 30, 2025;                  |

| · | an                                                                                       
 aggregate of 100,000,000 shares of our Common Stock reserved for future grants of equity 
 awards under the Wheels Up Experience Inc. 2021 Long-Term Incentive Plan, as amended and 
 rest