Webull Corporation and SK Growth Opportunities Corporation have announced their plan to merge through a definitive business combination agreement. This merger will result in the formation of a new entity called “Webull Corporation,” with its ordinary shares set to be listed on NASDAQ under a new ticker symbol.
Anthony Denier, the Group President of Webull Corporation, highlighted the importance of addressing challenges faced by retail investing customers, such as limited mobile functionality offered by traditional providers. Webull aims to bridge this gap by providing users with advanced trading capabilities and educational resources, catering to a more holistic approach for retail investors.
Since its establishment in 2018, Webull has expanded its presence outside the United States, venturing into the Asia Pacific, Europe, and Latin America regions. With over 40 million downloads of the Webull App and a user base exceeding 20 million globally, the platform has gained popularity among investors.
The Proposed Transaction values the Combined Company at approximately .3 billion, with unanimous approval from both Webull and SK Growth boards of directors. The deal is expected to close in the latter half of 2024, subject to regulatory and shareholder approvals.
Webull operates as a digital trading platform with licenses as a broker-dealer in 10 major markets, serving customers across 15 regions globally. In 2023, the platform facilitated around 0 billion in equity notional volumes and oversaw the trading of 430 million options contracts.
With access to advanced market data and charting tools from 42 exchanges, Webull’s interface is compatible across various devices, enhancing the overall trading experience. The platform is backed by institutional investors like General Atlantic, Coatue Management, Lightspeed Venture Partners, and J. Rothschild Capital Management.
