Webull Set to Go Public Via SPAC Merger, Valued at $7.3 Billion

Webull Corporation, the global fintech platform serving 20 million registered users worldwide, has reached a definitive agreement to merge with SK Growth Opportunities Corporation (NASDAQ: SKGR). Upon completion, the combined entity will trade on NASDAQ under Webull’s name, marking a major milestone for the digital investment sector.

Deal Valuation and Structure

The transaction values the combined company at an implied pro forma enterprise value of approximately $7.3 billion. Webull shareholders are expected to maintain full ownership of their existing stakes, while the deal is anticipated to close in H2 2024, contingent on regulatory approvals and customary closing conditions, including SEC clearance and NASDAQ listing approval.

Why Webull Matters: The Numbers Behind the Growth

The Webull app has achieved over 40 million downloads globally, establishing itself as a serious contender in the retail investing space. In 2023 alone, the platform processed approximately $370 billion in equity notional volumes and facilitated trading of 430 million options contracts—demonstrating robust market participation.

Operating as a licensed broker-dealer across 10 major markets and serving customers in 15 regions globally, Webull has built a borderless investment infrastructure. The platform grants users access to market data and charting tools from 42 different exchanges, enabling professional-grade trading on mobile, tablet, wearable and desktop devices.

Strategic Positioning and Competitive Edge

Webull’s appeal stems from addressing real pain points in retail investing. While traditional brokers remain desktop-centric and offer limited mobile experiences, Webull was engineered from the ground up for modern investors. The platform combines zero-commission trading in the U.S. market with low-cost commissions internationally, paired with advanced analytics and educational resources.

Since launching stateside in 2018, Webull has rapidly expanded across Asia Pacific, Europe and Latin America—capitalizing on the globalization of retail investing and rising retail participation through digital channels. The company boasts backing from prominent institutional investors including General Atlantic, Coatue Management, Lightspeed Venture Partners, and J. Rothschild Capital Management.

Leadership and Market Outlook

Anquan Wang, founder and CEO of Webull, emphasized that the SPAC partnership aligns with the company’s vision to become “the platform of choice for the new generation of investors globally.” Anthony Denier, group president, highlighted how the public listing will enable further expansion of Webull’s comprehensive approach to retail investing—bridging the gap between institutional-quality trading tools and accessibility.

Richard Chin, CEO of SK Growth, expressed confidence that combining SK Growth’s network and expertise with Webull’s fintech track record will accelerate growth across existing and emerging markets as a publicly traded company.

What’s Next

The deal is supported by legal counsel from Kirkland & Ellis LLP and Wilson Sonsini Goodrich & Rosati, with Cohen & Company Capital Markets serving as SK Growth’s financial advisor. A Registration Statement on Form F-4 is expected to be filed with the SEC, with additional transaction details available through regulatory filings.

This move positions Webull to capitalize on tailwinds in the global digital trading and investing services sector, where accessibility, functionality, and global reach increasingly define competitive advantage.