UP Wheels Up Experience

Filed: 1 Oct 20, 4:31pm






Washington, D.C. 20549












Date of Report (Date of earliest event reported): September 25, 2020




Aspirational Consumer Lifestyle Corp.

(Exact name of registrant as specified in its charter)




Cayman Islands001-3954198-1557048
(State or other jurisdiction(Commission(I.R.S. Employer
of incorporation)File Number)Identification No.)


#18-07/12 Great World City  
Singapore 237994
(Address of principal executive offices) (Zip Code)


+65 6672 7605

(Registrant’s telephone number, including area code)


Not Applicable

(Former name or former address, if changed since last report)




Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


¨Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨Pre-commencements communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class 




Name of each exchange

on which registered

Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant ASPL.U  New York Stock Exchange
Class A ordinary shares, par value $0.0001 per share ASPL  New York Stock Exchange
Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 ASPL WS  New York Stock Exchange


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company  x


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨







Item 8.01Other Events.


On September 25, 2020, Aspirational Consumer Lifestyle Corp. (the “Company”) consummated its initial public offering (the “IPO”) of 22,500,000 units (the “Units”). Each Unit consists of one Class A ordinary share of the Company, par value $0.0001 per share (an “Ordinary Share”), and one-third of one redeemable warrant of the Company. Each whole warrant entitles the holder thereof to purchase one Ordinary Share for $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $225,000,000.


Substantially concurrently with the closing of the IPO, the Company completed the private sale of 4,333,333 warrants (the “Private Placement Warrants”) at a purchase price of $1.50 per Private Placement Warrant, to the Company’s sponsor, Aspirational Consumer Lifestyle Sponsor LLC, generating gross proceeds to the Company of $6,500,000.


A total of $225,000,000, comprised of proceeds from the IPO and the sale of the Private Placement Warrants, was placed in a U.S.-based trust account at JP Morgan Chase Bank, N.A., maintained by Continental Stock Transfer & Trust Company, acting as trustee. An audited balance sheet as of September 25, 2020 reflecting receipt of the proceeds upon consummation of the IPO and the sale of the Private Placement Warrants has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.


The Company granted the underwriter of the IPO a 45-day option to purchase up to an additional 3,375,000 units at the IPO price to cover over-allotments, if any. On September 29, 2020, the underwriter notified the Company of its intention to partially exercise its over-allotment option on October 2, 2020 for an additional 1,474,632 units, and forfeit the remainder of the option.


Item 9.01Financial Statements and Exhibits.


(d)Exhibits. The following exhibits are filed with this Form 8-K:


No. Description of Exhibits
99.1 Audited Balance Sheet, as of September 25, 2020.







Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Aspirational Consumer Lifestyle Corp.
Date: October 1, 2020By:/s/ Ravi Thakran
 Name:Ravi Thakran
 Title:Chief Executive Officer and Chairman