Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 70

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 70
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the remaining amount of warrants.

Outstanding Redeemable Warrants

Public Warrants

Each whole warrant entitles
the registered holder to purchase one-tenth of one share of Common Stock at a price of $115.00 per whole share, subject to adjustment
as discussed below, at any time commencing August 12, 2021, except as described below. Pursuant to the Warrant Agreement, a warrant
holder may exercise its warrants only for a whole number of shares of our Common Stock. The warrants will expire on July 13, 2026,
at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

We will not be obligated
to deliver any shares of our Common Stock pursuant to the exercise of a warrant and have no obligation to settle such warrant exercise
unless a registration statement under the Securities Act, covering the issuance of the our Common Stock shares issuable upon exercise
of the warrants is then effective and a current prospectus relating thereto is available, subject to us satisfying our obligations described
below with respect to registration, or a valid exemption from registration is available, including in connection with a cashless exercise
permitted as a result of a notice of redemption described below under “- Redemption of warrants when the price per whole share of our Common Stock equals or exceeds $100.00”. No warrant will be exercisable for cash or on a cashless basis, and we will
not be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance of the shares upon exercise is
registered or qualified under the securities laws of the state of the exercising holder, or an exemption is available. In the event that
the conditions in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant will
not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In the event that a registration statement
is not effective for the exercised warrants, the purchaser of a unit (prior to the separation of the warrants from such units) containing
such warrant will have paid the full purchase price for the unit solely for the share of our Common Stock underlying such unit.

We agreed to use commercially
reasonable efforts to file with the SEC a registration statement covering the issuance, under the Securities Act, of the shares
of Common Stock issuable upon exercise of the warrants. Under the Warrant Agreement, we are required to use commercially reasonable efforts
to maintain the effectiveness of such registration statement