The new entity will debut its shares on NASDAQ under a fresh ticker symbol.
The deal is expected to close in the latter half of 2024, pending approvals.
Webull Corporation and SK Growth Opportunities Corporation
have formally declared their intention to merge, as announced in a definitive
business combination agreement today (Wednesday).
Announcement: Merger and Nasdaq Listing Plans
Upon completion of the proposed transaction outlined in
the Business Combination Agreement, the newly formed entity, to be known as
"Webull Corporation," will retain its identity and is slated to have
its ordinary shares listed on NASDAQ under a new ticker symbol.
Anthony Denier, the Group President of Webull Corporation, said: "Webull addresses critical pain points within the
retail investing customer landscape, where traditional providers offer
restricted mobile functionality and are suited for investors behind a computer.
Webull was created to bridge the gap by providing users with both advanced
trading capabilities and robust educational resources. We expect this business
combination will enable us to further expand our holistic approach to retail
investors."
Since its inception in 2018, Webull has expanded its
footprint beyond the United States, venturing into the Asia Pacific, Europe,
and Latin America regions. Boasting over 40 million downloads of the Webull App
and a user base exceeding 20 million globally.
The Proposed Transaction values the Combined Company at
around $7.3 billion, with no minimum cash requirement and assuming no further
redemptions by SK Growth shareholders. Both Webull's and SK Growth's Boards of
Directors have unanimously approved the transaction.
The deal is anticipated to
close in the latter half of 2024, pending regulatory and shareholder approvals,
along with customary closing conditions. These include the effectiveness of the
Registration Statement by the SEC and the Nasdaq Stock Market LLC's approval of
the Combined Company's listing application.
Webull's Global Presence and Market Performance
Webull operates as a digital trading platform, holding
licenses as a broker-dealer in 10 major markets and serving customers across 15
regions globally. In 2023, the platform facilitated approximately $370 billion
in equity notional volumes and oversaw the trading of 430 million options
contracts.
The platform offers access to the advanced market data and
charting tools sourced from 42 exchanges. Its interface is accessible across
various devices, including mobile, tablet, wearable, and desktop platforms,
enhancing the overall trading experience. Webull is supported by institutional investors including
General Atlantic, Coatue Management, Lightspeed Venture Partners, and J.
Rothschild Capital Management.
Webull Corporation and SK Growth Opportunities Corporation
have formally declared their intention to merge, as announced in a definitive
business combination agreement today (Wednesday).
Announcement: Merger and Nasdaq Listing Plans
Upon completion of the proposed transaction outlined in
the Business Combination Agreement, the newly formed entity, to be known as
"Webull Corporation," will retain its identity and is slated to have
its ordinary shares listed on NASDAQ under a new ticker symbol.
Anthony Denier, the Group President of Webull Corporation, said: "Webull addresses critical pain points within the
retail investing customer landscape, where traditional providers offer
restricted mobile functionality and are suited for investors behind a computer.
Webull was created to bridge the gap by providing users with both advanced
trading capabilities and robust educational resources. We expect this business
combination will enable us to further expand our holistic approach to retail
investors."
Since its inception in 2018, Webull has expanded its
footprint beyond the United States, venturing into the Asia Pacific, Europe,
and Latin America regions. Boasting over 40 million downloads of the Webull App
and a user base exceeding 20 million globally.
The Proposed Transaction values the Combined Company at
around $7.3 billion, with no minimum cash requirement and assuming no further
redemptions by SK Growth shareholders. Both Webull's and SK Growth's Boards of
Directors have unanimously approved the transaction.
The deal is anticipated to
close in the latter half of 2024, pending regulatory and shareholder approvals,
along with customary closing conditions. These include the effectiveness of the
Registration Statement by the SEC and the Nasdaq Stock Market LLC's approval of
the Combined Company's listing application.
Webull's Global Presence and Market Performance
Webull operates as a digital trading platform, holding
licenses as a broker-dealer in 10 major markets and serving customers across 15
regions globally. In 2023, the platform facilitated approximately $370 billion
in equity notional volumes and oversaw the trading of 430 million options
contracts.
The platform offers access to the advanced market data and
charting tools sourced from 42 exchanges. Its interface is accessible across
various devices, including mobile, tablet, wearable, and desktop platforms,
enhancing the overall trading experience. Webull is supported by institutional investors including
General Atlantic, Coatue Management, Lightspeed Venture Partners, and J.
Rothschild Capital Management.
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
π Facebook: https://www.facebook.com/FinanceMagnatesEvents
πΈ Instagram: https://www.instagram.com/fmevents_official
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
π LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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βΆοΈ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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π Subscribe to our YouTube channel for more!π
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
π£ Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage.
π Subscribe to our YouTube channel for more!π
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa