Wheels Up Announces Investors Agree to One-Year Lock-Up Extension
Wheels Up Experience Inc. (NYSE: UP) announced that its lead investors have agreed to extend the lock-up restriction on their shares of common stock for an additional year, until September 20, 2025. Approximately 97.2% of the shares issued under the Investment and Investor Rights Agreement will remain subject to this extended lock-up.
The agreement includes:
- Delta Air Lines, Inc., CK Wheels , and Cox Investment Holdings, extending the lock-up for all their shares
- Kore Capital and funds managed by Whitebox Advisors extending the lock-up for 72.5% of their shares
Wheels Up CEO George Mattson expressed appreciation for the investors' confidence and support, stating that this extended commitment allows the company to continue executing its strategic plan.
Wheels Up Experience Inc. (NYSE: UP) ha annunciato che i suoi principali investitori hanno concordato di estendere la restrizione di lock-up sulle loro azioni ordinarie per un ulteriore anno, fino al 20 settembre 2025. Circa il 97,2% delle azioni emesse ai sensi dell'Accordo di Investimento e Diritti degli Investitori rimarranno soggette a questo lock-up esteso.
L'accordo comprende:
- Delta Air Lines, Inc., CK Wheels e Cox Investment Holdings, che estendono il lock-up per tutte le loro azioni
- Kore Capital e i fondi gestiti da Whitebox Advisors, che estendono il lock-up per il 72,5% delle loro azioni
Il CEO di Wheels Up, George Mattson, ha espresso gratitudine per la fiducia e il supporto degli investitori, affermando che questo impegno prolungato consente all'azienda di continuare a eseguire il suo piano strategico.
Wheels Up Experience Inc. (NYSE: UP) anunció que sus principales inversionistas han acordado extender la restricción de bloqueo sobre sus acciones ordinarias por un año adicional, hasta el 20 de septiembre de 2025. Aproximadamente el 97.2% de las acciones emitidas bajo el Acuerdo de Inversión y Derechos de Inversores seguirán sujetas a este bloqueo extendido.
El acuerdo incluye:
- Delta Air Lines, Inc., CK Wheels y Cox Investment Holdings, extendiendo el bloqueo para todas sus acciones
- Kore Capital y los fondos gestionados por Whitebox Advisors, extendiendo el bloqueo para el 72.5% de sus acciones
El CEO de Wheels Up, George Mattson, expresó su agradecimiento por la confianza y el apoyo de los inversionistas, afirmando que este compromiso extendido permite a la empresa continuar ejecutando su plan estratégico.
Wheels Up Experience Inc. (NYSE: UP)는 주요 투자자들이 2025년 9월 20일까지 일반 주식에 대한 잠금 제한을 1년 더 연장하기로 합의했다고 발표했습니다. 약 97.2%의 주식이 투자 및 투자자 권리 계약에 따라 발행된 주식은 이 연장된 잠금 제한의 적용을 받습니다.
계약에는 다음이 포함됩니다:
- Delta Air Lines, Inc., CK Wheels 및 Cox Investment Holdings는 모든 주식에 대해 잠금 제한을 연장합니다.
- Kore Capital과 Whitebox Advisors가 관리하는 펀드는 그들의 주식의 72.5%에 대해 잠금 제한을 연장합니다.
Wheels Up의 CEO인 George Mattson은 투자자들의 신뢰와 지원에 감사의 뜻을 표하며, 이번 연장된 약속이 회사가 전략 계획을 계속 실행할 수 있게 한다고 말했습니다.
Wheels Up Experience Inc. (NYSE: UP) a annoncé que ses principaux investisseurs avaient accepté de prolonger la restriction de lock-up sur leurs actions ordinaires d'un an supplémentaire, jusqu'au 20 septembre 2025. Environ 97,2 % des actions émises dans le cadre de l'Accord d'Investissement et des Droits des Investisseurs resteront soumises à ce lock-up prolongé.
L'accord comprend :
- Delta Air Lines, Inc., CK Wheels et Cox Investment Holdings, prolongeant le lock-up pour toutes leurs actions
- Kore Capital et les fonds gérés par Whitebox Advisors prolongeant le lock-up pour 72,5 % de leurs actions
Le PDG de Wheels Up, George Mattson, a exprimé sa gratitude pour la confiance et le soutien des investisseurs, déclarant que cet engagement prolongé permet à l'entreprise de continuer à exécuter son plan stratégique.
Wheels Up Experience Inc. (NYSE: UP) hat bekannt gegeben, dass seine führenden Investoren zugestimmt haben, die Lock-up-Beschränkung für ihre Stammaktien um ein weiteres Jahr bis zum 20. September 2025 zu verlängern. Ungefähr 97,2% der Aktien, die im Rahmen des Investitions- und Investorenrechtsvertrags ausgegeben wurden, bleiben von dieser verlängerten Sperre betroffen.
Das Abkommen umfasst:
- Delta Air Lines, Inc., CK Wheels und Cox Investment Holdings, die die Sperre für alle ihre Aktien verlängern
- Kore Capital und Fonds, die von Whitebox Advisors verwaltet werden, die die Sperre für 72,5% ihrer Aktien verlängern
Der CEO von Wheels Up, George Mattson, äußerte Dankbarkeit für das Vertrauen und die Unterstützung der Investoren und erklärte, dass dieses erweiterte Engagement es dem Unternehmen ermöglicht, seinen strategischen Plan weiter umzusetzen.
- Lead investors agreed to extend share lock-up period, potentially reducing stock volatility
- 97.2% of shares issued under the Investment and Investor Rights Agreement remain locked up until September 20, 2025
- Extended lock-up demonstrates investor confidence in the company's strategic plan
- None.
Approximately
"I appreciate the confidence and support of the company's lead investors," said Wheels Up Chief Executive Officer George Mattson. "We believe that this extended commitment by our investors allows us to continue to execute on our strategic plan."
Concurrently with this announcement, the company is filing a Current Report on Form 8-K with the SEC related to the extension of the lock-up restrictions.
About Wheels Up
Wheels Up is a leading provider of on-demand private aviation and one of the largest companies in the industry. Wheels Up offers a complete global aviation solution with a large and diverse fleet and a global network of safety-vetted charter operators, all backed by an uncompromising commitment to safety and service. Customers can access charter and membership programs, as well as unique commercial travel benefits through a one-of-a-kind, strategic partnership with Delta Air Lines. Wheels Up also offers cargo, safety and security solutions and managed services to individuals, industry, government and civil organizations.
Wheels Up is guided by the mission to deliver a premium solution for every customer journey. With the Wheels Up mobile app and website, members and customers have the digital convenience to search, book and fly.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside of the control of Wheels Up Experience Inc. ("Wheels Up"). The words "anticipate," "continue," "could," "expect," "plan," "potential," "should," "would," "pursue" and similar expressions, may identify forward-looking statements, but the absence of these words does not mean that statement is not forward-looking. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in Wheels Up's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the
For more information, please visit: wheelsup.com
Media Contact
press@wheelsup.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/wheels-up-announces-investors-agree-to-one-year-lock-up-extension-302254954.html
SOURCE Wheels Up
FAQ
When does the extended lock-up period for Wheels Up (UP) shares expire?
Which investors agreed to extend the lock-up period for Wheels Up (UP) shares?
What percentage of Wheels Up (UP) shares are affected by the lock-up extension?
How long is the lock-up extension for Wheels Up (UP) shares?
