SK Growth Opportunities Corporation Stock Price, News & Analysis

SK Growth Opportunities Corporation (NASDAQ: SKGR) was a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. According to available information, SK Growth was organized as a Cayman Islands exempted company and focused on partnering with experienced teams using new technologies to address critical issues.

SK Growth completed its business combination with Webull Corporation, the owner of the Webull online investment platform. A joint announcement stated that the business combination between Webull Corporation and SK Growth Opportunities Corporation closed, with SK Growth becoming a wholly owned subsidiary of Webull. In connection with this transaction, the ordinary shares and warrants of SK Growth converted into ordinary shares and warrants of Webull.

The same announcement reported that, effective with the start of trading on April 11, 2025, SK Growth was delisted from Nasdaq and Webull ordinary shares, warrants and incentive warrants began trading on Nasdaq under the ticker symbols "BULL," "BULLW," and "BULLZ," respectively. This means the SKGR ticker represents a former SPAC that has completed its business combination and no longer trades under its original symbol.

Business purpose of SK Growth Opportunities Corporation

SK Growth described itself as a blank check company formed on December 8, 2021, to pursue a business combination. Its stated purpose was to effect a merger or similar transaction with one or more businesses. It indicated a focus on partnering with experienced teams that tackle critical issues through new technologies and on building connections between businesses, people and products to support future prosperity.

As a SPAC, SK Growth did not have an operating business of its own prior to the combination with Webull. Instead, its role was to identify a target company, negotiate a transaction, and, upon shareholder approval and closing, combine with that target so that the resulting company could be publicly listed.

Transformation through business combination with Webull

In a joint press release, Webull Corporation and SK Growth Opportunities Corporation announced that they had entered into a definitive business combination agreement. The announcement described Webull as a digital investment platform built on next-generation global infrastructure, and noted that, upon completion of the transaction, the combined company would retain the name "Webull Corporation" and its ordinary shares were expected to be listed on Nasdaq under a new ticker symbol.

A later announcement confirmed the closing of this business combination. It stated that SK Growth became a wholly owned subsidiary of Webull and that SK Growth’s ordinary shares and warrants converted into Webull securities. It also noted that, effective with the start of trading on April 11, 2025, SK Growth was delisted and Webull securities began trading on Nasdaq under the symbols "BULL," "BULLW," and "BULLZ."

Relationship between SKGR and Webull (BULL)

For investors researching the SKGR ticker, it is important to understand that SK Growth Opportunities Corporation functioned as the SPAC vehicle that enabled Webull Corporation to become a publicly traded company. Historical references to SKGR relate to the period before and through the closing of the business combination. After the closing and delisting of SKGR, trading in the combined company’s securities occurs under Webull’s symbols on Nasdaq.

Information about Webull and its securities is available through filings with the U.S. Securities and Exchange Commission, where Webull has indicated that it will file reports, including reports on Form 6-K and annual reports on Form 20-F. These filings cover the combined company following the completion of the transaction with SK Growth.

SPAC structure and shareholder approvals

In the joint announcements, SK Growth and Webull reported that the business combination agreement was unanimously approved by the respective boards of directors. The transaction was also subject to approval by SK Growth shareholders and other customary closing conditions, including the effectiveness of a registration statement on Form F-4 and approval of the listing application for the combined company’s shares.

The closing announcement noted that SK Growth shareholders approved the business combination on March 30, 2025. Following this approval and the satisfaction of closing conditions, the business combination closed, and SK Growth became a wholly owned subsidiary of Webull.

Historical role of SK Growth in the blank check sector

Within the blank check and SPAC sector, SK Growth Opportunities Corporation functioned as a vehicle to bring a private company, in this case Webull Corporation, to the public markets. Its lifecycle followed the typical SPAC pattern: formation, identification of a target, negotiation and signing of a business combination agreement, shareholder vote, and closing of the transaction. After completion of the combination and delisting of SKGR, the focus for investors and analysts shifts to the ongoing disclosures and performance of Webull Corporation under its own ticker symbols.

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