Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 47

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 47
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 liability
created by the Securities Act or the Exchange Act. Instead, the Certificate of Incorporation provides that federal district
courts will be the sole and exclusive forum for claims under the Securities Act. In addition, Section 27 of the Exchange Act
creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the
rules and regulations thereunder. Although Wheels Up believes this provision benefits Wheels Up by providing increased consistency
in the application of Delaware law in the types of lawsuits to which it applies, the provision may have the effect of discouraging lawsuits
against Wheels Up’s directors and officers.

Registration Rights

The 2023 Registration Statement,
2021 Registration Statement, each of the subscription agreements to which certain investments were made in a private placement prior
to or on July 13, 2021 (collectively, the “Subscription Agreements”), and Warrant Agreement, dated as of September 25,
2020 (the “Warrant Agreement”), between Aspirational Consumer Lifestyle Corp., the Company’s predecessor (“Aspirational”)
and Continental Stock Transfer & Trust Company, as warrant agent (in such capacity, the “Warrant Agent”), provide
that Wheels Up is required to register for resale, pursuant to Rule 415 under the Securities Act, certain shares of Common
Stock and, in the case of the 2021 Registration Rights Agreement, certain other equity securities, of Wheels Up that are held by the
parties thereto from time to time, subject to the restrictions on transfer therein.

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The Investor Rights Agreement
provides that the Investors will have registration rights pursuant to the 2023 Registration Rights Agreement. Pursuant to the 2023 Registration
Rights Agreement, Wheels Up is required to file with the SEC a shelf registration statement covering the resale of the shares of Common
Stock issued pursuant to the Investor Rights Agreement and to use its commercially reasonable efforts to have such registration statement
on Form S-1 or Form S-3 (if eligible) declared effective as soon as practicable after the filing thereof. On September 22, 2024,
the date by which Wheels Up is required to file such shelf registration statement was extended by the requisite holders of Registrable
Securities (as defined in the 2023 Registration Rights Agreement) to September 20, 2025. From and after the initial effectiveness
of a shelf registration statement filed in accordance with the terms of the 2023 Registration Rights Agreement, Wheels Up must maintain
a