Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 81

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 81
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 outstanding shares of Common Stock, the holder of a warrant will be entitled to receive the highest amount of cash,
securities or other property to which such holder would actually have been entitled as a stockholder if such warrant holder had exercised
the warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the shares of Common Stock held
by such holder had been purchased pursuant to such tender or exchange offer, subject to adjustment (from and after the consummation of
such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in the Warrant Agreement. Additionally,
if less than 70% of the consideration receivable by the holders of shares of Common Stock in such a transaction is payable in the form
of ordinary shares in the successor entity that is listed for trading on a national securities exchange or is quoted in an established
over-the-counter market, or is to be so listed for trading or quoted immediately following such event, and if the registered holder of
the warrant properly exercises the warrant within 30 days following public disclosure of such transaction, the warrant exercise price
will be reduced as specified in the Warrant Agreement based on the per share consideration minus Black-Scholes Warrant Value (as defined
in the Warrant Agreement) of the warrant.

The warrants have been issued
in registered form under a Warrant Agreement between the Transfer Agent, as warrant agent, and the Company. The Warrant Agreement provides
that (i) the terms of the warrants may be amended without the consent of any holder for the purpose of (A) curing any ambiguity
or correct any mistake, including to conform the provisions of the Warrant Agreement to the description of the terms of the warrants
and the Warrant Agreement set forth in the prospectus delivered to investors in connection with the IPO, or defective provision or (B) adding
or changing any provisions with respect to matters or questions arising under the Warrant Agreement as the parties to the Warrant Agreement
may deem necessary or desirable and that the parties deem to not adversely affect the rights of the registered holders of the warrants
and (ii) all other modifications or amendments require the vote or written consent of at least 65% of the then outstanding public
warrants; provided, that any amendment that solely affects the terms of the private placement warrants or any provision of the Warrant
Agreement solely with respect to the private placement warrants will also require at least 65% of the then outstanding private placement
warrants.

The warrant