secwatch / observer

8-K filed June 1, 2026, 6:56 AM ET ticker UP CIK 0001819516

debt confidence high sentiment neutral materiality 0.70

Wheels Up closes $100M unsecured term loan with 12% PIK interest; matures 2029

Wheels Up Experience Inc.

Received $100M on May 29 from Delta, Cox, and CK Wheels; proceeds for working capital, fleet expansion, and debt repayment.
Interest accrues at 12% per annum, payable in kind (PIK) quarterly; optional cash payment.
Maturity is earliest of May 29, 2029, default acceleration, or 91 days before 2023 credit maturity (Sept 2028).
Amendment No. 4 permits new loan and reflects $68M Series B Revolving Equipment Notes closed May 21, 2026.
Post-funding, Delta owns ~36.3%, CK Wheels ~35.6%, Cox ~11.9% of Class A common stock (36.26M shares outstanding).

item 1.01 item 2.03 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001628280-26-039275
form_type: 8-K
ticker: UP
cik: 0001819516
company_name: Wheels Up Experience Inc.
filed_at: 2026-06-01T10:56:21+00:00
discovered_at: 2026-06-01T11:00:00.239558+00:00
generated_at: 2026-06-01T11:00:46.836986+00:00
sec_items: ["1.01", "2.03", "9.01"]
event_type: debt
sentiment: neutral
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001628280-26-039275
json_url: https://secwatch.observer/filing/0001628280-26-039275.json
markdown_url: https://secwatch.observer/filing/0001628280-26-039275.md
text_url: https://secwatch.observer/filing/0001628280-26-039275.txt
edgar_index_url: https://www.sec.gov/Archives/edgar/data/1819516/000162828026039275/0001628280-26-039275-index.htm
edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1819516/000162828026039275/up-20260529.htm
generated_by_model: deepseek-v4-flash:cloud@v2
review_status: machine_generated
human_reviewed: false
corrected: false
correction_note: null
correction_timestamp: null
superseded_by: null

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