Brief: Wheels Up Finalizes New Investment With Delta, Certares, Knighthead And Cox

Wheels Up Experience

20/09/2023 22:12

Wheels Up Experience Inc  UP.N :
    * WHEELS UP FINALIZES NEW INVESTMENT WITH DELTA, CERTARES,
KNIGHTHEAD AND COX
    * WHEELS UP EXPERIENCE INC - $500 MILLION CREDIT FACILITY IS
EXPECTED TO PROVIDE FINANCIAL STABILITY AND SERVE AS A STRATEGIC
PLATFORM FOR FUTURE PROFITABLE GROWTH
    * WHEELS UP EXPERIENCE INC- DELTA AIR LINES WILL APPOINT
FOUR
DIRECTORS, CERTARES AND KNIGHTHEAD EACH WILL APPOINT TWO
DIRECTORS
    * WHEELS UP EXPERIENCE INC-  UNDER NEW STRUCTURE COX WILL
APPOINT
ONE DIRECTOR
    * WHEELS UP EXPERIENCE INC- ONE COMPANY EXECUTIVE WILL JOIN
BOARD
AND TWO INDEPENDENT DIRECTORS ARE EXPECTED TO REMAIN FROM
PREVIOUS BOARD
    * WHEELS UP EXPERIENCE -AFTER CLOSE OF CREDIT FACILITY,
LENDERS TO
GET NEWLY ISSUED WHEELS UP COMMON STOCK REPRESENTING 80% OF CO'S
OUTSTANDING EQUITY

Source text for Eikon:  ID:nPn93kvMra 
Further company coverage:  UP.N