secwatch.observer — SEC 8-K summary
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Issuer:     Wheels Up Experience Inc. (UP)
CIK:        0001819516
Form:       8-K
Filed at:   2024-11-14T23:59:59+00:00
Accession:  0001104659-24-118340
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819516/000110465924118340/0001104659-24-118340-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819516/000110465924118340/tm2428333d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-118340

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