{"schema_version":"secwatch.filing_event.v1","accession":"0001819516-24-000034","form_type":"8-K","ticker":"UP","cik":"0001819516","company_name":"Wheels Up Experience Inc.","filed_at":"2024-06-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:20.351873+00:00","generated_at":"2026-06-01T05:39:48.507641+00:00","sec_items":["9.01","2.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Wheels Up sells non-core aircraft management business for $19.1M; records $3.0M loss","bullets":["Sold 100% of Circadian Aviation to Executive AirShare on Sept 30, 2023.","Total consideration of $19.1M: $13.2M cash, $4.8M contingent, $0.6M escrow, $0.5M receivable.","Company recognized a $3.0M loss on the sale.","Pro forma financials remove Aircraft Management Business revenue of $120.6M (6mo 2023) and $217.3M (FY 2022).","Divestiture part of strategic focus on operational efficiency and cost reduction."],"urls":{"canonical":"https://secwatch.observer/filing/0001819516-24-000034","json":"https://secwatch.observer/filing/0001819516-24-000034.json","markdown":"https://secwatch.observer/filing/0001819516-24-000034.md","text":"https://secwatch.observer/filing/0001819516-24-000034.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1819516/000181951624000034/0001819516-24-000034-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1819516/000181951624000034/up-20230930.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-01T05:39:48.507641+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d2985afcf369637a26107d3c37054e46c50f4705","claim":"Wheels Up Experience Inc. completed a disposition involving Executive AirShare LLC for $19.1 million (closed 2023-09-30).","evidence_excerpt":"assets as it focused on its operational efficiency and other cost reduction initiatives. The fair value of the aggregate consideration transferred, as of September 30, 2023, was $19.1 million and the Company recognized a loss on the sale of $3.0 million. The $19.1 million was comprised of $13.2 million of cash received on the Closing Date, contingent consideration","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1819516/000181951624000034/0001819516-24-000034-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Executive AirShare LLC"},{"label":"Consideration","value":"$19.1 million"},{"label":"Closing","value":"2023-09-30"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}