Business
Wheels Up Lead Strategic Investor Delta Air Lines Agrees to Extend Lock-Up
Wheels Up Experience Inc. (NYSE: UP) today announced that lead strategic investor Delta Air Lines has agreed to further extend the lock-up restriction for all its shares of common stock issued under the Investment and Investor Rights Agreement for one additional year, through May 22, 2027. As a result, more than 35% of the total outstanding shares of the company as of May 22, 2026 will remain subject to a lock-up restriction.
About this update from Wheels Up Experience Inc.
[{"type":"text","content":"Latest in series of strategic financial actions reflects continued confidence in Company's transformation strategy","length":118,"tagName":"p","attribs":{}},{"type":"text","content":"ATLANTA, May 26, 2026 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that lead strategic investor Delta Air Lines has agreed to further extend the lock-up restriction for all its shares of common stock issued under the Investment and Investor Rights Agreement for one additional year, through May 22, 2027. As a result, more than 35% of the total outstanding shares of the company as of May 22, 2026 will remain subject to a lock-up restriction.","length":467,"tagName":"p"},{"type":"image","alt":"Wheels Up (PRNewsfoto/Wheels Up)","displaySize":"","headline":null,"caption":"Wheels Up (PRNewsfoto/Wheels Up)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":236,"url":"https://media.zenfs.com/en/prnewswire.com/a6acad0349927d2504f4c372a02b4d30"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/RK4xX.y35Xjp5qETV_qCzQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQxNg--/https://media.zenfs.com/en/prnewswire.com/a6acad0349927d2504f4c372a02b4d30","width":400,"height":236},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/.w8exkxVSh.c8BVDeJdINQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTM3OA--/https://media.zenfs.com/en/prnewswire.com/a6acad0349927d2504f4c372a02b4d30","width":400,"height":236}},"href":"https://mma.prnewswire.com/media/1776408/Wheels_Up_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""Our partnership with Delta is broad and deeply integrated across our entire business," said George Mattson, CEO of Wheels Up. "This lock-up extension, along with Delta's leadership on our recently announced commitment for a $100 million term loan, reflects their strong confidence in our strategy and the accelerating momentum in our one-of-a-kind strategic partnership."","length":396,"tagName":"p"},{"type":"text","content":"About Wheels Up","length":15,"tagName":"p"},{"type":"text","content":"Wheels Up is a leading global provider of on-demand private aviation with a large, diverse fleet and a network of vetted charter operators, all committed to safety and service. Customers access charter and membership programs and premium commercial travel benefits through a strat...