secwatch.observer — SEC 8-K summary
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Issuer:     Wheels Up Experience Inc. (UP)
CIK:        0001819516
Form:       8-K
Filed at:   2023-04-14T23:59:59+00:00
Accession:  0001819516-23-000027
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wheels Up receives NYSE delisting notice for sub-$1.00 stock; plans reverse split vote May 31
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- NYSE notified Wheels Up on April 12, 2023 that average closing price was below $1.00 over 30 trading days.
- Company has six-month cure period; stock and warrants continue trading with ".BC" designation on NYSE.
- Annual meeting on May 31, 2023 includes proposal to authorize reverse stock split at ratio between 1:5 and 1:10.
- Preliminary proxy filed April 3, 2023; no assurance that compliance will be regained.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819516/000181951623000027/0001819516-23-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819516/000181951623000027/up-20230412.htm
  HTML page:      https://secwatch.observer/filing/0001819516-23-000027

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