Wheels Up Lead Investors Extend Lock-Up, Underscoring Confidence in Transformation Strategy

ATLANTA, Sept. 22, 2025 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that its lead investors, Delta Air Lines, CK Wheels LLC (an investment vehicle co-managed by Certares Opportunities, LLC and Knighthead Opportunities Capital Management, LLC), and Cox Investment Holdings, LLC, agreed to extend the lock-up restriction for all their shares of common stock issued under the Investment and Investor Rights Agreement, for an additional eight months, until May 22, 2026.  As a result, all of the outstanding shares held by these strategic investors – representing approximately 85% of the total outstanding shares of the company as of September 22, 2025 – will remain subject to a lock-up restriction.

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