Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 8

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 8
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 of share sales made at prices lower than the prices they paid.

Our management has broad discretion in the use of the proceeds of this offering and may apply the proceeds in ways with which you do not agree.

In accordance with the terms
of the WUP Holdings Company Agreement, we currently intend to contribute the net proceeds, if any, from this offering, after deducting
commissions and offering expenses payable by us, to WUP Holdings, which is the entity through which, together with its subsidiaries,
we conduct substantially all of our business and operations. WUP Holdings will subsequently use the net proceeds, if any, from this offering
for general corporate purposes, including, among others, to execute Wheels Up’s fleet modernization strategy, to repay outstanding
indebtedness and for general working capital needs. Our management will have broad discretion over the use and investment of these net
proceeds and could spend the proceeds in ways that do not improve our results of operations or enhance the value of our Common Stock.
Accordingly, you will have to rely upon the judgment of our management with respect to the use of these net proceeds, with only limited
information concerning management’s specific intentions. You will not have the opportunity, as part of your investment decision,
to assess whether we will use the net proceeds from this offering appropriately. If we do not invest or apply the net proceeds, if any,
from this offering or our existing cash in ways that enhance stockholder value, we may fail to achieve expected results, which could
cause the price per share of our Common Stock to decline.

Our Organizational Documents (as defined below) and the Investor Rights Agreement (as defined below) include provisions limiting voting and control by non-U.S. Citizens, and, based on the Foreign Stock Record (as defined below) as of the record date for any vote or consent solicitation of the Company’s stockholders, any shares of Common Stock purchased by non-U.S. Citizens may be subject to voting restrictions.

To comply with restrictions
imposed by federal law on foreign ownership of U.S. air carriers, our Amended and Restated Certificate of Incorporation and Amended and
Restated By-Laws (collectively, the “Organizational Documents”) restrict voting of shares of our capital stock by persons
who are not “citizen of the United States” pursuant to 49 USC § 40102(a)(15)(C) (each, a “non-U.S. Citizen”).
The restrictions imposed by federal law currently require that no