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- The technical drive type platform will explore private aviation, expand the target market, so that millions of consumers can receive private aviation services Private air clothing Did-peer-to-end mode and proprietary technology,
- Wheels Up Platform for passengers and industry largest private Contact Wheels Up
- Wheels Up will accelerate the increase in its platform Adopting, investing in adjacent lifestyles and consumer services to supplement platforms and promote global expansion The transaction is
- Wheels Up Enterprise The estimation is 100 million US dollars, it is expected to provide up to 7.9 “$ 100 million in cash revenue 5.5 PIPE and ASPIRTIONAL Consumer Lifestyle Corp 100 million US dollars in cash PIPE Sector included T.Rowe Price , FIDELITy
- Franklin Advisors Durable Capital , Hg Vora Capital Management [123 ] Third Point , LUXOR CAPITAL and MONASHEE , etc. [ 123] The transaction is expected to be completed in 2021 , Wheels Up 100% is put into the merged company, the company will be listed on the New York Stock Exchange, the code For “UP” .
- New York 2021 February 4 / US News / – Private Aviation Field Leading Brands Wheels Uppartners Holdings LLC (hereinafter referred to as “Wheels Up” or “Company”) and Special purpose The acquisition company Aspirational Consumer Lifestyle Corp. (hereinafter referred to as “Aspirational”) reached the final protocol of public listing (New Trading Code: ASPL) through merge. The business of the transaction for Wheels Up is $ 2.1 billion. Aspirational is established and led by partners consisting of experienced consumer service enterprise investors, and the Chairman and CEO Ravi Thakran is a senior person with private equity and serves as Chairman of the LVMH Asian Group. In addition, the world’s largest private equity company-centered private equity company L Catterton is a small shareholder. After the transaction is completed, WHEELS UP will become the first private aviation platform on the New York Stock Exchange (New Handling Code: Up). Wheels UP Overview Wheels Up Connect passengers and private aircraft to provide excellent personalization experience. Its technology drive type platform will allow Wheels Up to promote its business worldwide, and make private aviation industry, expand the target market and enable millions of consumers to use private aviation services. WHEELS UP was established by the famous entrepreneur Kenny Dichter in 2013. Through Wheels Up, Dichter starts from the industry’s first member mode and King Air 350i model exclusive unit, it has created a next-generation evolution of private aviation. For seven years, Wheels Up has quickly become trusted market leaders and iconic brands. Through several strategic acquisitions and exclusive co-marketing partnerships with Delta Air Lines, Wheels UP’s operations and technical footprints have been expanded, created revolutionary service platforms that transform private aviation industry, providing consumers with world-class experience. Today, Wheels Up is the world’s largest private aviation platform, providing comprehensive overall aviation solutions, including membership plan, all cabin categories on-demand private flights, private flight aircraft management, machine sales, enterprises Program, brand activities, and commercial travel benefits provided by strategic partnerships with Delta Air Lines. In 2020, the company took advantage of more than 1,500 aircraft of its own, hosting and third-party partners, carrying passengers over 150,000. Under the driving of innovation and excellence, Wheels Up took the lead in launching a technology-driven intelligent solution that allows people to easily choose safe, high quality aircraft than ever. Meet various financial and travel needs. The Wheels UP application eliminates the friction factor in private aviation services. Passengers can view live stocks and purchase dynamic pricing flights, realize instant search, booking and cultivation of private aviation. Wheels UP platform is fullyProprietary technology, including leading flight management system Avianis, support many operators in the country, bringing thorough changes to this industry. The current management team of the company will continue to lead Wheels Up. Chairman and CEO of Aspirational Ravi Thakran served as Chairman and L Catterton Asia’s Executive Partner in Lvmh South Asia and Southeast Asia and Australia / New Zealand. He will join the company’s board of directors after the completion of the transaction. Management Comments Kenny Dichter, Wheels Up founders and CELS:
“We are very happy to cross this milestone and build new cooperation with Aspirational Partnership. We believe that through our unique membership model, product and welfare portfolio, and through our Wheels UP apps into private aviation, this cooperation will make us achieve the initial goal – private aviation. We look forward to With the AspirationAl team, continue to speed up our global growth and expansion. “
Ravi Thakran, AspiRational Board Chairman and CEO: ” When we set up aspirational, Wheels Up is exactly The company wants to cooperate. Benny and its world-class team have enabled a real landmark brand through many years. They are the leaders and innovators that are not allowed by the fields. We look forward to working with them. To push Wheels Up to the Global Stage. We have seen many opportunities to use our rich experience and relationships, cooperate with other ambition luxury brands, and expand to the international market. “
Transaction overview
February 1, 2021, Aspirational signed the final agreement (“Merge Agreement”), combined with WHEELS UP through stock and cash financing. The transaction assessment of the WHEELS UP company is about $ 2.1 billion.
It is easy to expect the merged company to provide up to $ 790 million in total revenue, including the first public release of $ 240 million in September 2020 in September 20020, including the AspiRational Trust account. This merger has also received further support for $ 550 million in PIPE funds, including from T. Rowe Price, Fidelity, Franklin Advisors, Durable Capital, Hg Vora Capital Management, Third Point, Luxor Capital and Monashee and so on. Commitment funds. The existing Wheels UP shareholders will put all of their 100% equity in new companies. After the transaction is completed, Wheels UP expects its balance sheet to provide up to $ 750 million in cash for operation and support new and existing business activities. 1 The transaction has won the agreementary approval of the Aspirational Board and the Wheels UP Board of Directors, and is still approved by the Aspirational and Wheels UP’s shareholders and is subject to other practices, including any applicable regulatory approval. Completed in the second quarter of 2021.
About other information about proposed transactions, including the merged protocols and investor demo documents, will be provided in the current report of the US Securities Trading Committee (SEC) today, and can pass the WWW. SEC.GOV website is obtained.
Adviser
In Aspirational, Connaught serves as a financial adviser; Credit serves financial advisers, placing agents and capital market consultants; Skadden, ARPS, SLATE, MEAGHER AMP; FLOM LLP is a legal adviser.
Goldman Sachs amp; Co. LLC, Jefferies LLC and Morgan Stanley amp; Co. LLC serves as a joint chief financial advisor for Wheels Up, Arnold AMP; Porter Kaye Scholer LLP serves as its legal counsel.