Wheels Up announces 1-for-20 reverse stock split

Wheels Up (UP) is announcing that effective immediately after the close of trading on The New York Stock Exchange on April 24, the company expects to complete a reverse stock split of its Class A common stock at a ratio of 1-for-20. The company believes that following the effectiveness of the Reverse Stock Split, the number of shares of Common Stock outstanding will align more closely to peer companies with similar market capitalizations. Assuming the stock price of the Common Stock meets or exceeds $1.00 for the requisite period of time, the company believes that it will promptly regain compliance with the NYSE’s listing standards and qualify for inclusion in the Russell 3000. Wheels Up’s Common Stock is expected to begin trading on the NYSE on a reverse split-adjusted basis on April 27, under the ticker symbol “UP”.