Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<ul>
<li>On 28 February, WeBull announced a merger with SK Growth Opportunities SPAC on NASDAQ. The proposed transaction represented an implied pro forma enterprise value of about $7.3 billion. </li>
<li>WeBull had 4.3 million funded accounts and  $8.2bn in assets under custody at end of 2023. In comparison, Robinhood had 23.4mn funded accounts and $102.6bn in assets under custody. </li>
<li>Given the numerous material concerns about this deal, we would avoid it. There are no financials including income statement and balance sheet of WeBull in the prospectus. </li>
</ul>


On 28 February, WeBull announced a merger with SK Growth Opportunities SPAC on NASDAQ. The proposed transaction represented an implied pro forma enterprise value of about $7.3 billion. 
WeBull had 4.3 million funded accounts and  $8.2bn in assets under custody at end of 2023. In comparison, Robinhood had 23.4mn funded accounts and $102.6bn in assets under custody. 
Given the numerous material concerns about this deal, we would avoid it. There are no financials including income statement and balance sheet of WeBull in the prospectus. 


A Merger Between WeBull and SK Growth Opportunities Corp in NASDAQ

SPAC Deep Dive, subSPAC

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SPAC Deep Dive

Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact.

Thematic (Sector/Industry)

<ul><li>The last week saw the return of mega SPAC deals, with a SPAC announcing plans to take an online trading platform public, and the brand management business of an airline going public through a merger with a blank-cheque firm.</li><li>Also, a SPAC switches merger targets, and Trump’s media firm gets sued by its co-founders. Read on to find out the latest about all things SPACs.  </li><li>New York-based online brokerage Webull is going public through a merger with SPAC SK Growth Opportunities Corporation in a deal valuing the firm at $7.3 billion. </li></ul>

The last week saw the return of mega SPAC deals, with a SPAC announcing plans to take an online trading platform public, and the brand management business of an airline going public through a merger with a blank-cheque firm.Also, a SPAC switches merger targets, and Trump’s media firm gets sued by its co-founders. Read on to find out the latest about all things SPACs.  New York-based online brokerage Webull is going public through a merger with SPAC SK Growth Opportunities Corporation in a deal valuing the firm at $7.3 billion. 

United States

SK Growth Opportunities Corporation operates as a blank check company. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization.

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SK Growth Opportunities (SKGR US)

A Merger Between WeBull and SK Growth Opportunities Corp in NASDAQ

On 28 February, WeBull announced a merger with SK Growth Opportunities SPAC on NASDAQ. The proposed transaction represented an implied pro forma...

Douglas Kim

Trading Up | Mar 3, 2024

New York-based online brokerage Webull is going public through a merger with SPAC SK Growth Opportunities Corporation in a deal valuing the firm at...

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