Duke Energy Foundation provides $125,000 in grants to South Carolina nonprofits to prepare homes for energy efficiency upgrades

Rhea-AI Summary

Wheels Up Experience (NYSE: UP) announced that its lead investors — Delta Air Lines, CK Wheels LLC (co-managed by Certares Opportunities and Knighthead Opportunities Capital Management), and Cox Investment Holdings — have agreed to extend a lock-up on all their common stock for an additional eight months, until May 22, 2026.

The locked shares represent approximately 85% of the company's outstanding shares as of September 22, 2025. Management said the extension reflects investor confidence while the company scales its jet fleet, expands membership offerings, and deepens its commercial relationship with Delta.

Positive

• 85% of outstanding shares remain locked until May 22, 2026
• Lock-up extension maintains current shareholder base stability through May 22, 2026

Negative

• High shareholder concentration: ~85% of shares held by strategic investors
• Limited public float and share liquidity until May 22, 2026

Key Figures

Foundation grants $125,000 Grants to South Carolina nonprofits for energy efficiency upgrades

Strategic investor ownership 85% of shares Outstanding shares held by lead investors under extended lock-up

PremierNotes shelf size $4,000,000,000 Aggregate offering price under Form S-3ASR PremierNotes registration

Max principal outstanding $2,000,000,000 Maximum net aggregate principal amount of PremierNotes outstanding

Consolidated indebtedness $86.4 billion Duke Energy consolidated debt as of June 30, 2025

Subsidiary indebtedness $57.8 billion Subsidiary debt as of June 30, 2025

DOE grant size $400 million Grant to TVA to accelerate BWRX-300 deployment referenced in SMR update

NC revenue increase request $1.729 billion Combined annual revenue increase sought in North Carolina rate filing

Market Reality Check

$115.22 Last Close

Volume Volume 5,048,464 vs 20-day average 3,520,958 (relative volume 1.43). normal

Technical Shares at $115.22, trading below 200-day MA of $120.51 and 11.39% under 52-week high.

Peers on Argus

Major regulated electric peers are also down today (e.g., SO -0.77%, AEP -1.54%, EXC -1.46%), broadly aligning with DUK’s -1.12% move despite the scanner not flagging a sector momentum event.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 04	Nuclear SMR strategy	Positive	-0.6%	DOE-backed SMR collaboration reinforcing long-term nuclear and grid reliability plans.
Dec 02	Philanthropy grants	Neutral	-0.9%	South Carolina hunger-relief microgrants via Duke Energy Foundation Giving Tuesday campaign.
Nov 20	Rate case filing	Positive	+0.2%	North Carolina multiyear rate plan to fund grid, storage, solar, and nuclear uprates.
Nov 19	Leadership change	Neutral	-1.3%	Appointment of new head of supply chain and procurement amid major build-out plans.
Nov 07	Customer programs	Neutral	-0.3%	Energy-saving tips and program promotion ahead of cold weather for bill relief.

Pattern Detected

Recent Duke Energy news, even when strategically positive, often coincided with flat-to-negative next-day moves, suggesting a tendency toward cautious or subdued price reactions.

Recent Company History

Over the last month, Duke Energy issued several strategically important and community-focused updates. On Nov. 7, it highlighted energy‑efficiency programs and more than $1 billion in customer bill savings. On Nov. 20, it sought a $1.729 billion multiyear rate increase tied to grid and generation investment. Early December brought nuclear SMR collaboration with a DOE‑backed $400 million grant to TVA and South Carolina hunger‑relief grants. Despite largely constructive themes, short‑term price reactions were modest or negative.

Regulatory & Risk Context

Active S-3 Shelf Registration 2025-09-30

$4,000,000,000 registered capacity

An effective Form S-3ASR dated Sep 30, 2025 enables Duke Energy to issue up to $4,000,000,000 in PremierNotes, with a maximum net aggregate principal outstanding of $2,000,000,000. These are unsecured, floating-rate demand notes, adding flexible funding capacity alongside existing consolidated indebtedness of about $86.4 billion.

Market Pulse Summary

This announcement highlights philanthropic support and strategic investor commitment, with $125,000 in energy-efficiency grants and a lock-up extension covering about 85% of shares held by lead investors. In context, Duke Energy has also pursued major grid and nuclear investments and maintains an effective $4,000,000,000 PremierNotes shelf alongside substantial indebtedness of roughly $86.4 billion. Observers may watch future capital-raising activity, regulatory outcomes, and execution on long-term projects.

Key Terms

lock-up restriction financial

"agreed to extend the lock-up restriction for all their shares of common"

A lock-up restriction is a rule that prevents certain people involved in a company from selling their shares for a set period after a company goes public or raises new funding. This helps stabilize the company's stock price by limiting early sales that could cause large fluctuations. Investors pay attention to these restrictions because once they expire, there may be a surge in shares available for sale, which can impact the stock's value.

Investment and Investor Rights Agreement financial

"shares of common stock issued under the Investment and Investor Rights Agreement"

A written contract between a company and its investors that spells out the deal terms and the investors’ protections, such as how much control they have, what financial information they can see, who gets paid first if the company is sold, and rules for selling shares. Think of it as a rulebook and safety net that clarifies expectations and limits risks, because those rights determine governance, access to returns, and how easy it is to recover value.

AI-generated analysis. Not financial advice.

ATLANTA, Sept. 22, 2025 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that its lead investors, Delta Air Lines, CK Wheels LLC (an investment vehicle co-managed by Certares Opportunities, LLC and Knighthead Opportunities Capital Management, LLC), and Cox Investment Holdings, LLC, agreed to extend the lock-up restriction for all their shares of common stock issued under the Investment and Investor Rights Agreement, for an additional eight months, until May 22, 2026.  As a result, all of the outstanding shares held by these strategic investors – representing approximately 85% of the total outstanding shares of the company as of September 22, 2025 – will remain subject to a lock-up restriction.

"We are pleased that our lead investors have decided to extend their agreements to retain all their shares, demonstrating confidence in our strategy and progress," said Wheels Up Chief Executive Officer George Mattson. "Their long-term focus and steadfast support have been critical as we scale our premium jet fleet, enhance membership offerings, deepen our commercial relationship with Delta, and sharpen our operations.  By delivering the most accessible and flexible offering in the private aviation industry, we are transforming Wheels Up and redefining private aviation for today's travelers."

About Wheels Up
Wheels Up is a leading provider of on-demand private aviation in the U.S. with a large, diverse fleet and a global network of safety-vetted charter operators, all committed to safety and service. Customers access charter and membership programs and commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up also provides cargo services to a range of clients, including individuals and government organizations. With the Wheels Up app and website, members can easily search, book, and fly.

For more information, visit www.wheelsup.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside of the control of Wheels Up Experience Inc. ("Wheels Up"). The words "anticipate," "continue," "could," "expect," "plan," "potential," "should," "would," "pursue" and similar expressions, may identify forward-looking statements, but the absence of these words does not mean that statement is not forward-looking. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in Wheels Up's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 11, 2025 and Wheels Up's other filings with the SEC from time to time. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Wheels Up does not intend to update any of these forward-looking statements after the date of this press release.

Contacts

Investors:
ir@wheelsup.com  

Media:
press@wheelsup.com

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SOURCE Wheels Up

FAQ

What did Wheels Up (NYSE: UP) announce on September 22, 2025 about investor lock-up?

Lead investors extended a lock-up on all their common stock for eight months, until May 22, 2026.

How much of Wheels Up's outstanding stock is subject to the extended lock-up?

Approximately 85% of the company's outstanding shares were reported as subject to the lock-up.

Which investors extended their Wheels Up (UP) lock-up through May 22, 2026?

Delta Air Lines, CK Wheels LLC (co-managed by Certares Opportunities and Knighthead Opportunities Capital Management), and Cox Investment Holdings extended the lock-up.

What is the immediate shareholder impact of Wheels Up's lock-up extension to May 22, 2026?

The extension keeps a large portion of shares concentrated with strategic investors, limiting the free float and public liquidity until May 22, 2026.

Did Wheels Up management comment on the reason for the lock-up extension?

Management said the extension demonstrates investor confidence while the company scales its fleet, enhances membership offerings, and deepens its Delta relationship.