Six years after it launched in the U.S. before expanding across the globe, Webull is about to take a big step in its journey.
The digital investment platform’s owner Webull Corporation Inc. is planning to list on the Nasdaq through a combination with SK Growth, a special purpose acquisition company. The new entity will retain the Webull Corporation name and the combined entity will have an implied pro forma enterprise value of $7.3 billion (assuming no further redemptions by the SPAC’s shareholders).
"The business combination with SK Growth marks a significant milestone for Webull,” said Webull founder and CEO Anquan Wang. “We believe SK Growth's partnership and experience fully aligns with our long-term vision to make Webull the platform of choice for the new generation of investors globally."
Webull has approximately 20 million registered users in the U.S. (where it operates as Webull Financial, LLC), Asia Pacific, Europe, and Latin America, is licensed as a broker-dealer in 10 major markets, and provides a full suite of financial products with competitive pricing including zero-fee trading in the U.S. It had approximately $370 billion in equity notional volumes and 430 million options contracts traded through the platform in 2023.
“We are confident that capitalizing on our experience and network globally will bolster Webull's growth in existing and new markets as a public company,” said Richard Chin, CEO and Director of SK Growth Opportunities Corporation.
Aging populations and underfunded systems are forcing wealth managers to rethink how they prepare clients for retirement.
A new Morgan Stanley survey signals a fundamental shift in how employees view retirement benefits - and raises the stakes for plan advisors.
Proposition 40 wealth tax could raise $30 billion, not $100 billion, as departures erode the base and voters remain split
Jump is piping FMG marketing content into post-meeting workflows as Zocks opens its platform to more than 32,000 LPL financial advisors
Trevor Uhls pleaded guilty to one count of wire fraud and one count of money laundering.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
