UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2025
Commission File Number: 001-42597
Webull Corporation
200 Carillon Parkway
St. Petersburg, Florida 33716
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40- F.
Form 20-F ☒ Form 40-F ☐
INFORMATION CONTAINED IN THIS REPORT ON FORM
6-K
On November 20, 2025, Webull
Corporation (the “Company”) issued a press release reporting financial results for the three months ended September 30, 2025.
On November 20, 2025, the Company also made available an investor presentation on its website. Copies of the press release and investor
presentation are attached hereto as Exhibits 99.1 and 99.2, respectively.
This Report on Form 6-K (this
“Report”), including all exhibits hereto, is incorporated by reference into the Company’s registration statement on
Form S-8 (File No. 333-289886) and shall be a part of such registration statement from the date on which this Report is furnished, to
the extent not superseded by documents or reports subsequently filed or furnished.
EXHIBIT INDEX
| Exhibit No. |
|
Description of Exhibits |
| 99.1 |
|
Press Release dated November 20, 2025 |
| 99.2 |
|
Investor Presentation |
Forward-Looking Statements
This Report includes “forward-looking statements”
within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical fact contained in this Report, the Exhibits thereto or other statements of the Company
made in connection therewith, including, for instance, statements as to business strategy and plans, future results of operations and
financial position, planned products and services, objectives of management for future operations or strategies of the Company, market
size and growth opportunities, competitive position and technological and market trends are forward-looking statements. Some of these
forward-looking statements can be identified by the use of forward-looking words, including “anticipate,” “expect,”
“suggests,” “plan,” “believe,” “predict,” “potential,” “seek,”
“future,” “propose,” “continue,” “intend,” “estimates,” “targets,”
“projects,” “should,” “could,” “would,” “may,” “will,” “forecast”
or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such
terminology.
All forward-looking statements are based
upon current estimates and forecasts and reflect the reasonable views, assumptions, expectations, and opinions of the Company and
its management as of the date of this Report, and are therefore subject to a number of factors, risks and uncertainties, some of
which are not currently known to the Company and its management and could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to: (1) the ability of
the Company to grow and manage growth profitably, maintain relationships and deepen engagement with users, customers and suppliers,
and retain its management and key employees; (2) the reliance of key functions of the Company’s business on third-parties and
the risk that the Company’s platform and systems rely on software and applications that are highly technical and may contain
undetected errors that could result in unexpected network interruptions, failures, security breaches, or computer virus attacks; (3)
the risks associated with the Company’s global operations and continued global expansion, including, but not limited to, the
risks related to complex or constantly evolving political or regulatory environments that may result in substantial costs or require
adverse changes to the Company’s business practices; (4) the Company’s estimates of expenses and costs, of profitability
or of other operational and financial metrics as well as the Company’s expectations regarding demand for and market acceptance
of its products and service; (5) the Company’s reliance on trading related income, including payment for order flow
(“PFOF”), and the risk of new regulation or bans on PFOF and similar practices; (6) the Company’s exposure to
fluctuations in interest rates, rapidly changing interest rate environments, volatile prices of securities and digital assets and
their respective trading volumes; (7) the Company’s reliance on a limited number of market makers and liquidity providers to
generate a large portion of its revenues, and the negative impact of the loss of any of those market makers or liquidity providers;
(8) the effects of competition in the Company’s industry and the Company’s need to constantly innovate and invest in new
markets, products, technologies or services to retain, attract and deepen engagement with users; (9) changes in international trade
policies and trade disputes that could result in tariffs, taxes or other protectionist measures adversely affecting our business;
(10) risks related to general political, economic and business conditions globally and in jurisdictions where the Company operates;
(11) risk of further actions taken by various government bodies in the United States that have made the Company the
subject of inquiries and investigations relating to concerns about our connections to China; (12) the risk that the failure to
protect customer data and privacy or to prevent security breaches relating to the Company’s platform could result in economic
loss, damage to its reputation, deter customers from using its products and services, and expose it to legal penalties and
liability; (13) risks related to the Company’s need as a regulated financial services company to develop and maintain
effective compliance and risk management infrastructures as well as to maintain capital levels required by regulators and
self-regulatory organizations; (14) the ability to meet, or continue to meet, stock exchange listing standards; (15) the possibility
of adverse developments in pending or new litigation and regulatory investigations; (16) risks related to significant disruptions in
the cryptocurrency market that negatively impacts user engagement with cryptocurrency trading on our platform; (17) political,
regulatory or economic changes that affect cryptocurrencies, including changes in the governance of a cryptocurrency; (18) risks
related to the offer and resale of our securities, such as dilution from the issuance of additional Class A ordinary shares upon the
exercise of warrants, and increased volatility, or significant declines, in the price of our securities based on increased trading
activity and the perception that sales of our securities may occur; and (19) other risks and uncertainties that are more fully
described in filings made, or to be made, by the Company with the U.S. Securities and Exchange Commission (the “SEC”),
including in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements”
in the Company’s filings with the SEC, such as the Company’s Annual Report on Form 20-F filed with the SEC on April 25,
2025. The foregoing list of factors is not exhaustive. Reported results should not be considered an indication of future
performance. There may be additional risks that the Company and its management presently do not know about or that the Company and
its management currently believe are immaterial that could also cause actual results to differ materially from those contained in
the forward-looking statements. In light of these factors, risks and uncertainties, the forward-looking events and circumstances
discussed in this Report may not occur, and any estimates, assumptions, expectations, forecasts, views or opinions set forth in this
Report should be regarded as preliminary and for illustrative purposes only and accordingly, undue reliance should not be placed
upon the forward-looking statements. The Company assumes no obligation and does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events, or otherwise, except as required by law.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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WEBULL CORPORATION |
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| Date: November 20, 2025 |
By: |
/s/ Anquan Wang |
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Name: |
Anquan Wang |
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Title: |
Chief Executive Officer |
