NEW YORK, July 12, 2021 /PRNewswire/ -- Aspirational
Consumer Lifestyle Corp. ("Aspirational") (NYSE: ASPL), a special
purpose acquisition company, today announced that its shareholders
have voted to approve the previously announced business combination
with Wheels Up Partners Holdings LLC ("Wheels Up"), the leading
brand in private aviation.
At the extraordinary general meeting of Aspirational
shareholders held today, approximately 93.6% of the votes cast,
representing approximately 63.3% of holders of Aspirational's
outstanding shares, approved the proposed business combination with
Wheels Up.
Subject to the satisfaction of certain other closing conditions,
the business combination is expected to close on July 13, 2021, after which Wheels Up's Class A
common stock and 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 operating executives alongside L Catterton, the
largest global consumer-focused private equity firm, as a minority
partner. Aspirational identifies and invests in innovative, premium
lifestyle brands which offer consumers aspirational experiences,
products and services. To learn more about Aspirational, visit
www.aspconsumer.com.
About Wheels Up
Wheels Up is a leading provider of private aviation services in
the U.S. through a fleet of owned, managed, and third-party planes.
Its mission is to connect flyers to private aircraft – and one
another – to deliver exceptional, personalized experiences. The
Company has approximately 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 the federal securities laws with respect to
the proposed transaction between Wheels Up and Aspirational. These
forward-looking statements generally are identified by the words
"believe," "project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"will," "would," "will be," "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 risks and uncertainties. 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 the transaction may not be completed
in a timely manner or at all, which may adversely affect the price
of Aspirational's securities, (ii) the risk that the transaction
may not be completed by Aspirational's business combination
deadline and the potential failure to obtain an extension of the
business combination deadline if sought by Aspirational, (iii) the
failure to satisfy the remaining conditions to the consummation of
the transaction, (iv) the lack of a third party valuation in
determining whether or not to pursue the transaction, (v) the
inability to complete the PIPE investment in connection with the
transaction, (vi) the occurrence of any event, change or other
circumstance that could give rise to the termination of that
certain Agreement and Plan of Merger, dated as of February 1, 2021, as amended on May 6, 2021 (the "Merger Agreement"), by and
among Aspirational, Wheels Up and the other parties thereto, (vii)
the effect of the announcement or pendency of the transaction on
Wheels Up's business relationships, operating results and business
generally, (viii) risks that the proposed transaction disrupts
current plans and operations of Wheels Up and potential
difficulties in Wheels Up employee retention as a result of the
transaction, (ix) the outcome of any legal proceedings that may be
instituted against Wheels Up or against Aspirational related to the
Merger Agreement or the transaction, (x) the ability to maintain
the listing of the Aspirational's securities a national securities
exchange, (xi) the price of Aspirational's securities may be
volatile due to a variety of factors, including changes in the
competitive and highly regulated industries in which Aspirational
plans to operate or Wheels Up operates, variations in operating
performance across competitors, changes in laws and regulations
affecting Aspirational's or Wheels Up's business and changes in the
combined capital structure, (xii) the ability to implement business
plans, forecasts, and other expectations after the completion of
the proposed transaction, and identify and realize additional
opportunities, and (xiii) the risk of downturns and a changing
regulatory landscape in the highly competitive aviation industry.
The foregoing list of factors is not exhaustive. You should
carefully consider the foregoing factors and the other risks and
uncertainties described in the "Risk Factors" section of
Aspirational's Annual Report on Form 10-K, as amended, and the
definitive proxy statement/prospectus filed by Aspirational with
the Securities and Exchange Commission (the "SEC") on June 23, 2021, and other documents filed by
Aspirational from time to time with the SEC. These filings identify
and address other important 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 are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Wheels Up and Aspirational assume no obligation and do 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 gives any assurance
that either Wheels Up or Aspirational or the combined company will
achieve its expectations.
Media Contacts
Jonesworks
Email: wheelsup@jonesworks.com
212-839-0111
Kivvit
Josh Vlasto
Email: JVlasto@Kivvit.com
917-881-9662
Investor Contact
IR@Wheelsup.com
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SOURCE Aspirational Consumer Lifestyle Corp.
