Aspirational Consumer Lifestyle Corp. Announce Shareholder Agreement for Business Combination with Wheels Up

NEW YORK, 12 July 2021 /PRNewswire/ — Aspirational Consumer Lifestyle Corp. (“Aspirational”) (NYSE: ASPL), a special purpose acquisition company, today announced that its shareholders have voted to agree to a previously announced business combination with Wheels Up Partners Holdings LLC (“Wheels Up”), a leading brand in aviation. private.

At Aspiration’s extraordinary general meeting of shareholders held today, approximately 93.6% of the votes cast, representing approximately 63.3% of Aspiration’s outstanding shareholders, approved the proposed business combination with Wheels Up.

Subject to satisfaction of certain other closing conditions, the business combination is expected to close on July 13, 2021, after which the Common stock and Class A Wheels Up warrants will be listed on the New York Stock Exchange under the ticker symbols “UP” and “UP WS”, respectively, and ASPL will be renamed “Wheels Up Experience Inc.”

About Aspirational Consumer Lifestyle Corp.

Launched in September 2020, Aspirational is a partnership of experienced consumer investors and former LVMH operations executives together L Catterton, the largest consumer-focused global private equity firm, as a minority partner. Aspirational identifies and invests in innovative premium lifestyle brands that offer consumers aspirational experiences, products and services. To learn more about Aspirations, visit www.aspconsumer.com.

About Wheels Up

Wheels Up is the leading provider of private aviation services in the US through a fleet of owned, managed and third party aircraft. Its mission is to connect flyers to private planes – and to each other – to provide an exceptional and personalized experience. The company has around 11,000 active users and is headquartered in New York.

For more information, please visit www.wheelsup.com.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to the proposed transaction between Wheels Up and Aspirational. These forward-looking statements are generally identified with the words “believe”, “project”, “hope”, “anticipate”, “estimate”, “intention”, “strategy”, “future”, “opportunity”, “plan , ” “may”, “should”, “will”, “will”, “will”, “will continue”, “will likely result”, and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risk and uncertainty. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that transactions may not be completed on time or at all, which could adversely affect the price of securities. Valuable Aspirations, (ii) the risk of the transaction not being completed by the Aspirations business combination deadline and potential failure to obtain an extension of the business combination deadline if Aspirations wishes, (iii) failure to meet the remaining conditions for completion of the transaction, (iv) lack of judgment third parties in determining whether to continue the transaction or not, (v) the inability to complete the PIPE investment in connection with the transaction, (vi) the occurrence of any events, changes or other circumstances that may result in the termination of the Agreement and the proposed Merger, dated as of February 1, 2021, as amended in May 6, 2021 (“Merger Agreement”), by and between Aspiration, Wheels Up and other parties therein, (vii) the impact of the announcement or delay of the transaction on Wheels Up’s business relationship, results of operations and business in general, (viii) the risk that the transaction proposed to interfere with Wheels Up’s current plans and operations and potential difficulties in Wheels Up employee retention as a result of the transaction, (ix) the result of any legal proceedings that may be brought against Wheels Up or against Aspirations relating to the Merger Agreement or transaction, (x) ) ability to maintain listing of Aspiration’s securities on national stock exchanges, (xi) Aspiration’s securities prices may fluctuate due to various factors, including changes in competition and the highly regulated industry in which Aspiration plans to operate or Wheels Up operates, variations in performance operations across competitors, changes in laws and regulations affecting Aspirations or Wheels Up business n changes to the combined capital structure, (xii) ability to implement business plans, forecasts and other expectations after completion of the proposed transaction, and identify and realize additional opportunities, and (xiii) downside risks and a changing regulatory landscape in the highly competitive aviation industry . The list of factors above is not exhaustive. You should carefully consider the above factors and other risks and uncertainties described in the “Risk Factors” section of the Aspirational Annual Report on Form 10-K, as amended, and the definitive proxy statement/prospectus submitted by Aspiration to the Commission. Securities and Exchange. (“SEC”) on June 23, 2021, and other documents that Aspiration may file from time to time with the SEC. This submission identifies and addresses other significant risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they were made. Readers are cautioned not to rely too heavily on forward-looking statements, and Wheels Up and Aspirational has no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Wheels Up nor Aspirational make any warranty that either Wheels Up or Aspirational or any of the combined companies will achieve their expectations.

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SOURCES OF Consumer Aspirations Lifestyle Corp.

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