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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


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.

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