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

News Market Reaction – UP

+12.66%

17 alerts

+12.66% News Effect

+15.1% Peak in 28 hr 27 min

+$66M Valuation Impact

$587M Market Cap

0.7x Rel. Volume

On the day this news was published, UP gained 12.66%, reflecting a significant positive market reaction. Argus tracked a peak move of +15.1% during that session. Our momentum scanner triggered 17 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $66M to the company's valuation, bringing the market cap to $587M at that time.

Data tracked by StockTitan Argus on the day of publication.

• Nine South Carolina nonprofit organizations receiving grants up to $20,000 
• Funding will help address homes that are unable to benefit from weatherization programs because of pre-existing health and safety issues

GREENVILLE, S.C., Dec. 9, 2025 /PRNewswire/ -- Duke Energy and Duke Energy Foundation are awarding $125,000 in microgrants to South Carolina nonprofits that will help bolster existing programs that help make the necessary repairs that enable households to become eligible for energy efficiency improvements and long-term cost savings.

Why it matters: Many homes across the Palmetto State are unable to benefit from weatherization programs because of pre-existing health and safety issues, such as roof leaks, electrical hazards, mold, pest infestations or structural deficiencies that must be addressed before energy efficiency upgrades can occur.

Where the money goes: Qualified nonprofit organizations that prepare income challenged households for participation in energy efficiency and weatherization initiatives applied for grants up to $20,000 through a request for proposals process launched in September:

• Citizens United for Redevelopment and Economic Stability for Chester ($10,000)
• City of Florence ($10,000)
• Emmanuel's Hammer ($20,000)
• Habitat for Humanity Greenville County ($20,000)
• Habitat for Humanity of York County ($10,000)
• Helping Florence Flourish ($10,000)
• Rebuild Upstate ($5,000)
• Sumter United Ministries ($20,000)
• United Way of Hartsville ($20,000)

Our view

• Jerry Dudley, Planning Director, City of Florence, S.C.: "The Duke Energy Foundation grant will enhance the city's Weatherization and Rehabilitation Program by funding critical home repairs for income-challenged households. Several homeowners are in urgent need of roof repairs. These grant dollars will help extend the reach of the city's program, allowing us to serve more families and address essential housing needs."
• John Lattimore, Chief Program Officer, Habitat for Humanity of Greenville County: "Habitat for Humanity of Greenville County is excited and honored to continue our partnership with Duke Energy and their commitment to providing a better quality of life for families in need. This specific funding will help provide warm, safe and dry conditions through critical home repairs for several deserving families. The need is great in our community and partners like Duke Energy allow us to meet more of that need."
• Tim Pearson, President, Duke Energy's South Carolina: "Many homes in our state have underlying safety issues that prevent homeowners from participating in energy efficiency and weatherization programs that can significantly moderate energy bills and decrease the growing demand on the energy grid. Recent legislative efforts have made it clear energy efficiency is critical to our long-term efforts to respond to growth in our state, and Duke Energy continues to look at new ways of expanding energy saving opportunities for our customers."

Saving energy and money: In addition to these grants, Duke Energy Progress launched a pilot program in South Carolina in 2024 offering free energy improvements to qualifying households based on income and energy use. And in 2025, Duke Energy increased incentives and eligibility for many of its energy efficiency and demand response programs in South Carolina, expanding ways customers can save money and energy. For more information about these programs, visit duke-energy.com/SummerSavings.

Duke Energy Foundation
Duke Energy Foundation provides more than $30 million annually in philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation is funded by Duke Energy shareholders.

Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

Contact: Ryan Mosier
24-Hour: 800.559.3853

 

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.