Wheels Up Partners Plans IPO

Wheels Up Partners said on Monday it had agreed to go public through a merger with blank-check firm Aspirational Consumer Lifestyle Corp, valuing the private jet charter company at $2.1 billion.

Aspirational Consumer Lifestyle, a special purpose acquisition company (SPAC) led by LVMH executive and veteran private equity investor Ravi Thakran, raised $225 million in an initial public offering (IPO) last year.

The New York-based company is set to receive $790 million in gross proceeds on the transaction, including $550 million from investors such as T. Rowe Price, Fidelity Investments, and Franklin Advisors.

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