Webull IPO is advancing uniquely as the Digital brokerage firm is now looking to go public through a merger with a Special Purpose Acquisition Company (SPAC) called SK Growth Opportunities Corp.
Webull IPO: The SEC Uncertainty
Webull confirmed its agreement with SK Growth Opportunities to list its shares on the Nasdaq stock exchange. Consequently, the joint company will get a pro forma enterprise value of about $7.3 billion. In the long run, the SPAC deal with SK Growth Opportunities is expected to pull in as much as $100 million into the ecosystem.
Notably, Webull currently has an estimated 20 million registered users across over 15 countries worldwide. It also has $370 billion worth of equity notional volumes, according to its published statement. Webull subscribed to this merger strategy after its several attempts to list in the United States through an Initial Public Offering (IPO) were hampered by the online brokerage offering cryptocurrency to its users.
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