Deal Details

Wheels Up Merges with SPAC Aspirational

Technology & Services
Consumer

Wheels Up merger with Aspirational

Summary

Wheels Up Experience Inc. (“Wheels Up” or the “Company”) announced that it has closed its previously announced merger with the special purpose acquisition company Aspirational Consumer Lifestyle Corp (“Aspirational”) (NYSE: ASPL). Through its merger, Wheels Up completes its listing on the New York Stock Exchange (NYSE: UP).

Baird served as a capital markets advisor to Wheels Up Experience Inc. on this transaction.

About

Wheels Up, the leading brand in private aviation, is the only company in the industry to offer a total private aviation solution that includes world-class safety, service, and flexibility through on-demand private flights across all cabin categories, membership programs, corporate solutions, aircraft management, whole aircraft sales, and commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up, which was founded and is led by renowned entrepreneur Kenny Dichter, is uniquely positioned to offer its Customers and Members access to over 1,500 safety-vetted and verified aircraft. Wheels Up is headquartered in New York, New York.

Launched in September 2020, Aspirational is a partnership of experienced consumer investors and former LVMH executives alongside L Catterton, the largest global consumer-focused private equity firm, as a minority partner. Ravi Thakran, Aspirational’s CEO and Chairman, has experience serving on numerous public company boards and held senior management positions at the Swatch Group, Nike and Tata Group.