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UP - Wheels Up to get $350M investment avoid bankruptcy - CNBC
Wheels Up Experience Inc. Class A
2023-08-15 09:43:24 ET
Wheels Up ( NYSE: UP ) is expected to receive a $350 million investment, largely from Delta Air Lines ( DAL ), that will allow the company to restructure and avoid a bankruptcy filing. Wheels U is halted for news pending.
The investment will save the customer deposits, the bonds, preserve Wheels Up as a "going concern," though it will be "massively dilutive," CNBC's David Faber reported.