secwatch.observer — SEC 8-K summary
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Issuer:     Wheels Up Experience Inc. (UP)
CIK:        0001819516
Form:       8-K
Filed at:   2023-06-08T23:59:59+00:00
Accession:  0001104659-23-069398
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wheels Up implements 1-for-10 reverse stock split; reduces authorized shares to 250M
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- Reverse stock split at 1-for-10 ratio effective after market close on June 7, 2023.
- Authorized shares reduced proportionally from 2.5B to 250M.
- Warrants adjusted: each warrant exercisable for 1/10 share at $115.00 per whole share.
- LLC agreement amended to equitably adjust outstanding units and hurdle amounts for the split.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819516/000110465923069398/0001104659-23-069398-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819516/000110465923069398/tm2317838d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-069398

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer