Webull Announces Closing of Business Combination Transaction with SK Growth Opportunities Corporation

Rhea-AI Summary

Webull (NASDAQ: BULL), owner of the Webull online investment platform, has completed its business combination with SK Growth Opportunities The merger was approved on March 30, 2025, with trading of Webull shares beginning on Nasdaq under ticker symbols 'BULL,' 'BULLW,' and 'BULLZ' on April 11, 2025.

The Webull platform, launched in 2018, provides comprehensive financial products and analytical tools across 14 markets globally. The platform has achieved significant reach with over 50 million downloads and 23 million registered users worldwide. The company distinguishes itself through an intuitive user experience and extensive functionality designed for retail investors building long-term wealth.

Positive

• Successful completion of business combination and Nasdaq listing, providing access to public capital markets
• Strong user base with 23 million registered users globally
• Extensive market reach with 50 million+ app downloads
• Presence in 14 international markets across multiple regions

Negative

• None.

Insights

Financial Markets Expert

Webull's successful SPAC merger with SK Growth Opportunities marks a significant capital markets milestone for the retail trading platform. The completion of this business combination transitions Webull from private to public status, providing it with enhanced access to capital markets for future growth initiatives.

This transaction represents a strategic exit for early Webull investors while creating a publicly-traded entity with improved liquidity. Despite volatile market conditions for SPAC-related transactions lately, Webull secured shareholder approval on March 30th and completed the listing process efficiently.

What's particularly notable is Webull's global expansion trajectory - operating in 14 markets across multiple continents demonstrates substantial international penetration for a platform that only launched in the US in 2018. The 50 million downloads and 23 million registered users represent impressive user acquisition metrics that position Webull as a serious contender in the competitive retail trading platform landscape.

The absence of detailed financial disclosures or transaction valuations in this announcement is typical for initial listing announcements. Investors should watch for forthcoming quarterly reports to assess key metrics like revenue growth, average revenue per user, customer acquisition costs, and profitability margins - essential data points for evaluating Webull's competitive position against established players like Robinhood, E*TRADE and Charles Schwab.

Technology Platform Analyst

Webull's public debut highlights its positioning as a technology-forward investment platform targeting the growing segment of sophisticated retail traders. The company's emphasis on "in-depth data and analytic tools" and "extensive functionality" signals its strategic differentiation from basic trading apps, focusing instead on users seeking deeper market insights.

The company's user metrics are compelling - 23 million registered users globally represents significant scale, though the conversion rate from the 50 million downloads to registered users (46%) suggests opportunities to optimize the onboarding funnel. The platform's expansion across 13 international markets beyond the US demonstrates product adaptability across regulatory frameworks and user preferences.

Webull's focus on "experienced, digitally savvy retail investors" indicates a deliberate market positioning away from complete beginners, targeting instead the growing demographic of self-directed traders seeking sophisticated tools without institutional-level costs. This mid-market strategy addresses a valuable segment between basic commission-free apps and traditional full-service brokerages.

The platform's emphasis on long-term customer relationships ("grow with and serve them over decades") suggests a business model likely focused on expanding the lifetime value of users through additional services and features. For investors, Webull's technology-first approach and substantial user base provide a solid foundation, though competitive pressures from both established financial institutions and fintech disruptors remain significant considerations in this rapidly evolving market.

Shares are trading on Nasdaq under the ticker "BULL"

ST. PETERSBURG, Fla., April 16, 2025 /PRNewswire/ -- Webull Corporation (NASDAQ: BULL) ("Webull" or the "Company"), the owner of the Webull online investment platform, and SK Growth Opportunities Corporation ("SK Growth") (NASDAQ: SKGR), a special purpose acquisition company, today announced the closing of their previously announced business combination (the "Business Combination"). The Business Combination was approved by SK Growth shareholders on March 30, 2025. Upon closing, SK Growth became a wholly owned subsidiary of Webull, and the ordinary shares and warrants of SK Growth converted to ordinary shares and warrants of Webull. Effective with the start of trading on April 11, 2025, SK Growth was delisted and Webull ordinary shares, warrants and incentive warrants began trading on Nasdaq under the ticker symbols "BULL," "BULLW," and "BULLZ," respectively. In celebration of its listing, Webull rang the Nasdaq opening bell today. 

The Webull online investment platform provides a full suite of financial products, including in-depth data and analytic tools. The Company differentiates itself from other online investment platforms and legacy investment service providers by offering retail investors in markets across the globe an intuitive user experience and extensive functionality constructed to help customers build wealth over time.

Webull launched in the United States in 2018 and has since expanded to 13 additional markets across Asia Pacific, Europe and Latin America. Today, the Webull App has been downloaded more than 50 million times and has over 23 million registered users globally.

"Becoming a publicly traded company marks a significant milestone in Webull's history," said Anthony Denier, Group President and US CEO of Webull. "This next step in our company's journey will position us to serve the growing number of experienced, digitally savvy retail investors who demand a more sophisticated retail trading partner that can grow with and serve them over decades. Webull's advanced trading and investment offerings make us the partner of choice for the next generation of retail investors looking to capitalize on the dynamic world of trading and investment. I am grateful for our team's dedication to our customers' financial success and our mission to create a more accessible and empowering retail investing experience."

Advisors

Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, is acting as SK Growth's exclusive financial advisor and lead capital markets advisor. Kirkland & Ellis LLP is acting as Webull's U.S. legal counsel, and Wilson Sonsini Goodrich & Rosati, Professional Corporation is acting as SK Growth's U.S. legal counsel.

About Webull 

Webull Corporation (NASDAQ: BULL) owns and operates Webull, a leading digital investment platform built on next-generation global infrastructure. Through its global network of licensed brokerages, Webull offers investment services in 14 markets across North America, Asia Pacific, Europe, and Latin America. Webull serves more than 23 million registered users globally, providing retail investors with 24/7 access to global financial markets. Users can put investment strategies to work by trading global stocks, ETFs, options, futures, and fractional shares through Webull's trading platform, which seamlessly integrates market data and information, its user community, and investor education resources. Learn more at www.webullcorp.com.

Information about Webull and its securities can also be accessed through the U.S. Securities and Exchange Commission (SEC) at http://www.sec.gov, where Webull will be filing reports, including reports on Form 6-K and annual reports on Form 20-F.

Webull Investor Relations
ir@webullcorp.com

Webull Media Relations
5W Public Relations
Nicholas Koulermos
Webull@5wpr.com
(212) 999-5585

View original content to download multimedia:https://www.prnewswire.com/news-releases/webull-announces-closing-of-business-combination-transaction-with-sk-growth-opportunities-corporation-302429613.html

SOURCE Webull Corporation

FAQ

When did Webull (BULL) start trading on Nasdaq after the merger?

Webull (BULL) began trading on Nasdaq on April 11, 2025, following the completion of its business combination with SK Growth Opportunities

How many registered users does Webull (BULL) have globally in 2025?

Webull (BULL) has over 23 million registered users globally and its app has been downloaded more than 50 million times.

In how many markets does Webull (BULL) operate as of 2025?

Webull (BULL) operates in 14 markets across Asia Pacific, Europe, Latin America, and the United States.

What are the different ticker symbols for Webull (BULL) on Nasdaq?

Webull trades on Nasdaq under three symbols: 'BULL' for ordinary shares, 'BULLW' for warrants, and 'BULLZ' for incentive warrants.