Expected to Regain Compliance with NYSE Listing Standards and Meet Criteria for Inclusion in Russell 3000
Trading on Reverse Split-Adjusted Basis Expected to Begin on April 27, 2026
ATLANTA, April 14, 2026 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE:UP) ("Wheels Up" or the "Company") is announcing that effective immediately after the close of trading on The New York Stock Exchange (the "NYSE") on April 24, 2026 (the "Effective Time"), the Company expects to complete a reverse stock split (the "Reverse Stock Split") of its Class A common stock, $0.0001 par value per share ("Common Stock"), at a ratio of 1-for-20 (the "Ratio"). The Company believes that following the effectiveness of the Reverse Stock Split, the number of shares of Common Stock outstanding will align more closely to peer companies with similar market capitalizations. Assuming the stock price of the Common Stock meets or exceeds $1.00 for the requisite period of time, the Company believes that it will promptly regain compliance with the NYSE's listing standards and qualify for inclusion in the Russell 3000. Wheels Up's Common Stock is expected to begin trading on the NYSE on a reverse split-adjusted basis on April 27, 2026, under the ticker symbol "UP".
"As part of the Delta-led investment in 2023, we issued more than 670 million shares to our lenders, leaving the company with a much higher share count than many of our peers. Today's announcement allows us to realign our share count and remain focused on sustainable, profitable growth and our differentiated, customer-first business model," said Wheels Up Chief Executive Officer George Mattson. "We're executing our strategy—driven by operational excellence, a new premium fleet, our strategic partnership with Delta Air Lines, and improved financial performance—and the progress we've made over the past two years is real. We've restructured the business, sharpened our focus on premium customers, and grown key segments, including corporate demand through our strategic partnership with Delta Air Lines and our global charter business. As we near completion of our fleet transformation more than a year ahead of schedule, we believe we are positioned for growth and to deliver on our commitments to members, partners, employees, and investors."
When the Reverse Stock Split is effective, every 20 shares of Common Stock issued and outstanding ...
