Webull to Merge with SK Group's SPAC in $7.3 Billion Deal, Set to Go Public

The merger between Webull and SK Growth Opportunities Corp. marks a significant move in the online trading platform's expansion, aiming for a Nasdaq listing in the second half of this year.

Webull, a commission-free online trading platform, is merging with SK Growth Opportunities Corp., a SPAC formed by SK Group, in a deal valued at $7.3 billion.
The merger is expected to close in the second half of this year, subject to regulatory and shareholder approvals, with Webull planning to list on Nasdaq under a new ticker.
Webull's expansion into the U.S. in 2018 and its popularity during the meme-stock mania of 2021 have contributed to its growth, boasting 20 million registered users globally.
The deal represents a rare multi-billion dollar merger in the SPAC market, which has seen a decline in popularity due to regulatory concerns and investor losses.
Webull's CEO, Anquan Wang, emphasizes the merger with SK Growth as aligning with Webull's vision to become the platform of choice for a new generation of investors.