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Wheels Up SPAC Merger? 10 Things to Know About the Private Aviation Startup and ASPL Stock

Wheels Up is reportedly in talks to go public via a special purpose acquisition company (SPAC) merger with Aspirational Consumer Lifestyle Corp (NYSE:ASPL).

The letters "M&A" on a wooden table, surrounded by a calculator and other business items. mergers and acquisitions
Source: Shutterstock.com

Here’s everything potential investors in ASPL stock need to know about the Wheels Up SPAC merger rumors.

  • Inside sources claim that the two companies are discussing a deal that would have Aspirational Consumer Lifestyle Corp merging with Wheels Up to take it public.
  • The deal could value the combined company higher than $2 billion.
  • That’s roughly double Wheels Up’s latest valuation of $1.1 billion after a private round of funding in 2019.
  • The sources of this rumor claim that Aspirational Consumer Lifestyle Corp is seeking private investment in public equity (PIPE) to fund the deal.
  • Funds from the PIPE would be used in combination with the $225 million raised in the ASPL stock IPO to fuel the merger with Wheels Up.
  • Neither company is speaking about the matter yet and insiders are choosing to remain anonymous due to the nature of the deal.
  • Wheels Up is a private jet company that allows people to rent out planes for flights.
  • It offers multiple packages depending on how often a person plans to make use of the service.
  • Aspirational Consumer Lifestyle Corp is a blank check company created to bring another company public via a merger.
  • Its target for merger includes “premium brands that offer an aspirational lifestyle experience to consumers.”

ASPL stock was up 4% as of Tuesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2021/01/wheels-up-spac-merger-10-things-to-know-about-the-private-aviation-startup-and-aspl-stock/.

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