---
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"
generated_at: "2026-06-01T11:00:46.836986+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819516/000162828026039275/0001628280-26-039275-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819516/000162828026039275/up-20260529.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-039275
- JSON: https://secwatch.observer/filing/0001628280-26-039275.json
- Plain text: https://secwatch.observer/filing/0001628280-26-039275.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.