Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 23

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 23
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 of shares of our Common Stock through the applicable
Sales Agent upon notice to the other party.

The applicable Sales Agent
will provide written confirmation following the close of trading on the NYSE on each trading day on which shares of our Common Stock
are sold through such Sales Agent under the Sales Agreement. Each confirmation will include the number of shares of our Common Stock
sold on that day, the aggregate gross proceeds of such sales, the net proceeds of such sales and the compensation payable by us to the
applicable Sales Agent in connection with such sales of our Common Stock.

We will pay each of the
Sales Agents an aggregate fee equal to 3% of the gross proceeds from the sales of all shares of Common Stock sold through the applicable
Sales Agent under the Sales Agreement. We have also agreed to reimburse the Sales Agents for their reasonable and documented out-of-pocket
expenses, including the reasonable fees, disbursements and expenses of counsel for the Sales Agents.

<div align='center'>S-13</div>

Under the terms of the Sales
Agreement, we may also sell shares of our Common Stock negotiated transactions or as otherwise agreed with the Sales Agents, including
sales to one or more of the Sales Agents, as principals for their own accounts, at a price to be agreed upon at the time of sale. If
we sell shares of our Common Stock in a manner which is not an “at the market” offering, including sales to one or more of
the Sales Agents, as principals for their own accounts, we will enter into a separate terms agreement with the applicable Sales Agent,
and we will describe the terms of the offering of such shares in a separate prospectus supplement or free writing prospectus if required.
The Sales Agents do not have any obligation to purchase shares of Common Stock from us as principal and may elect whether or not to do
so in its sole and absolute discretion.

Conflicts of Interest

Bank of America, N.A., an
affiliate of BofA Securities, Inc., is a lender under our Revolving Equipment Notes Facility (as defined in our Annual Report on
Form 10-K for the year ended December 31, 2024). To the extent we use proceeds from this offering to pay amounts owed on the
Revolving Equipment Notes Facility, Bank of America, N.A. may receive 5% of the proceeds, resulting in a conflict of interest (as that
term is defined in FINRA Rule 5121) for BofA Securities, Inc. For that