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Interesting! From new 8K
$Wheels Up Experience (UP.US)$ Wheels Up Announces Investors Agree to One-Year Lock-Up Extension
Approximately 97.2% of lead investor shares will remain subject to the lock-up restriction until September 20, 2025
Atlanta, GA – September 23, 2024 – Wheels Up Experience Inc. (NYSE: UP) today announced that lead investors, Delta Air Lines, Inc., CK Wheels LLC, and Cox Investment Holdings, LLC, agreed to extend the lock-up restriction with respect to all their shares of common stock issued under the Investment and Investor Rights Agreement, for an additional year, until September 20, 2025. In addition, Kore Capital LLC and funds managed by Whitebox Advisors LLC, agreed to extend the lock-up restriction with respect to 72.5% of their shares until September 20, 2025. As a result, approximately 97.2% of the shares issued under the Investment and Investor Rights Agreement will remain subject to a lock-up restriction until September 20, 2025.
“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.”
Approximately 97.2% of lead investor shares will remain subject to the lock-up restriction until September 20, 2025
Atlanta, GA – September 23, 2024 – Wheels Up Experience Inc. (NYSE: UP) today announced that lead investors, Delta Air Lines, Inc., CK Wheels LLC, and Cox Investment Holdings, LLC, agreed to extend the lock-up restriction with respect to all their shares of common stock issued under the Investment and Investor Rights Agreement, for an additional year, until September 20, 2025. In addition, Kore Capital LLC and funds managed by Whitebox Advisors LLC, agreed to extend the lock-up restriction with respect to 72.5% of their shares until September 20, 2025. As a result, approximately 97.2% of the shares issued under the Investment and Investor Rights Agreement will remain subject to a lock-up restriction until September 20, 2025.
“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.”
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Tonyco : Now we know why it dropped.. bought at 2.02 a share