Wheels Up closes $332M revolving financing facility, acquires 17 Phenom aircraft

Wheels Up Experience Inc.

New $332M revolving equipment notes facility (initial $331.3M funded) with Bank of America; Delta credit support; maturity 2029.
Acquired 17 Embraer Phenom 300/300E aircraft from GrandView Aviation for ~$95M cash; funded by facility.
Redeemed in full all outstanding 2022 Term Equipment Notes; remaining ~$84.3M net proceeds for general corporate purposes.
Phenom fleet to be introduced into programmatic and charter offerings for peak holiday travel season.

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