Online trading platform Webull set to go public through $7.3 B SPAC offer

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Online trading platform Webull set to go public via $7.3B SPAC deal

Revealed: The Secrets our Clients Used to Earn $3 Billion

The Webull logo design is shown on a mobile phone screen.

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Webull is preparing to go public through combining with an unique function acquisition business in an offer that values the digital investing platform at $7.3 billion.

The New York- based online brokerage will integrate with SK Growth Opportunities Corporation in the 2nd half of the year, pending regulative and investor approvals. The combined business will be noted on Nasdaq as Webull under a brand-new ticker.

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SK Growth Opportunities (SKGR), YTD

Special function acquisition business, or SPACs, raise capital in a going public and utilize the money to combine with a personal business and take it public, generally within 2 years.

After suffering a dry spell over the previous 2 years, the area is revealing indications of a revival as the booming market powers on and rates of interest begin to support.

Webull introduced its trading platform in the U.S. in 2018 and took pleasure in a substantial increase throughout the Covid-19 pandemic as numerous Americans ended up being novice traders throughout lockdowns. The company had $370 billion in equity notional volumes and 430 million alternatives agreements traded through its platform in 2023.

Compared to its rival Robinhood, Webull’s customers tend to be more active and sophisticated financiers, utilizing analytical tools such as charting to choose when to get in and leave their trades, CEO Anthony Denier stated in a CNBC interview in 2021.

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