Search
EN Down
Language
Hi, user_no_name
Live Chat

Trading platform Webull to go public on Nasdaq via SPAC deal

Webull IPO to hit Nasdaq via SPAC deal earmarked for second half of 2024 

On Wednesday, online trading platform Webull announced its decision to go public on the Nasdaq stock exchange through a merger with SK Growth Opportunities, a special purpose acquisition company (SPAC), in a deal valuing the merged entity at $7.3 billion.  

This transaction stands out as one of the few high-value mergers in the currently subdued blank-check market, amidst growing concerns from both regulators and investors. 

SPACs, commonly referred to as blank-check firms, are established solely for raising capital through an initial public offering (IPO) without having any ongoing business activities. Their primary objective is to use the funds from the IPO to acquire or merge with an already existing company. 

This allows existing companies to become publicly traded without undergoing the traditional IPO process.  

"The traditional IPO path has many hurdles that we've encountered over the years," Webull's Group President Anthony Denier said, citing the possibility of the company being valued against peers that are not direct competitors. 

This approach to going public is seen as a way for the market to establish a company's value rather than relying on underwriter assessments, a principle Denier said aligned with “Webull’s core values of democratisation.”

 

Choose your points of movement

Сalculate your hypothetical P/L (aggregated cost and charges) if you had opened a trade today.

Market

Shares Search
Shares
Index
Commodity
Bonds
Crypto
ETFs
Currency

Instrument

Search
Clear input
Occidental
Prosus N.V.
Porsche AG
Hermes
CAT
Thermo Fisher
Nikola Corporation
Tilray
Shell plc (LSE)
Skillz Inc
Iberdrola
DeltaAir
CrowdStrike Holdings
Golar LNG
Applied Materials
Snowflake
Royal Bank Canada
Amazon.com
Spotify
Exxon Mobil
CCB (Asia)
McDonald's
Campari
GameStop
Netflix
ON Semiconductor
Costco
Dave & Buster's
Delivery Hero SE
LUCID
Continental
SunPower
Zoom Video Communications
Schlumberger
Virgin Galactic
Upwork Inc.
Cameco
JP Morgan
Fuelcell
Rivian Automotive
XPeng Inc
Wal-Mart Stores
Trade Desk
Blackstone
Vodafone
Aptiv PLC
L'Oreal
Target
Rio Tinto
Sartorius AG
British American Tobacco
Qorvo
ASOS
Cisco Systems
Nel ASA
Arista
Airbus
Apple
Pfizer
AMC Entertainment Holdings
ASML
Hubspot
Teladoc
Starbucks
SMCI
Canopy Growth
Wish.com Inc
Lockheed Martin
ProSiebenSat.1
IAG
AbbVie
Marston's
Baidu
Teleperformance
Norwegian Air Shuttle
Airbus Group SE
HSBC HK
Block
Annaly Capital
Abbott
LVMH
American Express
Novavax
GoPro
Siemens
Total
SIG
Pinterest Inc
Taiwan Semi
Etsy
Amgen
SONY
3D Systems
UPS
Yandex
BlackBerry
Gen Digital Inc
Xiaomi
Quanta Services
Unity Software
NVIDIA
Anglo American
Palantir Technologies Inc
Fresnillo
Deere
Rolls-Royce
Porsche
Uber
Vir Biotechnology
American Airlines
ROBLOX Corp
Macy's
FirstRand
easyJet
DISNEY
Aurora Cannabis Inc
BP
Adidas
Boeing Co
Vonovia
Coca-Cola Co (NYSE)
Home Depot
General Electric
Coinbase Inc
ALIBABA HK
Philip Morris
General Motors
PayPal
UniCredit
II-VI
BASF
Kraft Heinz
Alphabet (Google)
Palo Alto Networks
Evraz
Plug Power
Li Auto
Oracle
Roku Inc
UiPath Inc
Upstart Holdings Inc
F5 Networks
Infinera
Inditex
ZIM Integrated Shipping Services Ltd
Deutsche Bank
Hammerson
IBM
JD.com
Barrick Gold
TUI AG (LSE)
Lemonade
MerckCo USA
Infosys
Invesco Mortgage
Comcast
Santander
Accenture
Anheuser-Busch Inbev
Visa
Mastercard
Ozon
T-Mobile
SAP
Wayfair
Beyond Meat
Kuaishou
CarMax
Tesla
Lyft
Medtronic
Adobe
Morgan Stanley
Workday Inc
Blackrock
Vipshop
Meta (Formerly Facebook)
Linde PLC
Micron
Lululemon
Ceconomy
Chipotle
Gilead
Avacta
Naspers
Bristol Myers
Samsung
The Cheesecake Factory
Glencore plc
British American Tobacco
ChargePoint Holdings Inc
Twilio
Intel
Lloyds
CNOOC
Electrolux
Wells Fargo
Sea
PG&E
Fedex
Citigroup
Peloton Interactive Inc.
eBay
Microsoft
JnJ
Bilibili Inc
Trump Media & Technology Group
AIA
Nasdaq
Air France-KLM
Allianz
Lithium Americas Corp
Procter & Gamble
Qualcomm
AMD
New Oriental
MercadoLibre.com
Mondelez
Lumentum Holdings
Two Harbors Investment aration
AstraZeneca
Norwegian Cruise Line
Unilever
GoHealth
PepsiCo
Barclays
PETROCHINA
Goldman Sachs
Eli Lilly
HSBC
Cellnex
Berkshire Hathaway
Jumia Technologies
HDFC Bank
RTX Corp
Bayer
Bank of America
Chevron
ADT
DoorDash
Marriott
Nike
AT&T
GSX Techedu
Robinhood
Telecom Italia
Deliveroo Holdings
TUI
Freeport McMoRan
Toyota
BioNTech
Airbnb Inc
Alibaba
Verizon
Nio
Eni
Ford
Hanesbrands
Volkswagen
UnitedHealth
Shopify
China Life
Snap
Christian Dior
Conoco Phillips
Lufthansa
Tencent
Moderna Inc
Salesforce.com
Broadcom
Diageo
Toro
Cinemark

Account Type

Direction

Quantity

Amount must be equal or higher than

Amount should be less than

Amount should be a multiple of the minimum lots increment

USD Down
$-

Value

$-

Commission

$-

Spread

-

Leverage

-

Conversion Fee

$-

Required Margin

$-

Overnight Swaps

$-
Start Trading

Past performance is not a reliable indicator of future results.

All positions on instruments denominated in a currency that is different from your account currency, will be subject to a conversion fee at the position exit as well.

SPAC popularity wanes amid regulatory scrutiny 

The popularity of SPACs — a hallmark during pandemic-era dealmaking — has waned recently due to increased scrutiny from the U.S. Securities and Exchange Commission (SEC). The De-SPAC index, tracking companies that have gone public via SPAC mergers, has lost close 13% this year and 34% over the past six months. 

Investors in SPACs have the option to redeem their shares if they disagree with the merger choice, a process that can significantly reduce the post-merger company's available cash, posing substantial risks. 

Webull, which began its U.S. operations in 2018 and has since expanded globally, offers commission-free trading on stocks, equity options, and ETFs, targeting a more experienced segment of retail investors, according to Anthony Denier.  

The platform has seen a resurgence in user activity recently, fueled by optimism for the U.S. economy’s “soft landing” as the Federal Reserve prepares to unwind its quantitative tightening measures. 

Post-merger, Webull plans to list on the Nasdaq with a new ticker symbol, with current shareholders expected to retain their stakes in the new company. The deal is anticipated to be finalized in the latter half of the year. 

When considering shares and indices for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.        

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. 

Latest news

French election worries drop CAC 40, widen bond spreads

Friday, 14 June 2024

Indices

Election fears hit CAC 40, French-German bond spreads widen

Tesla shares up after shareholders approve CEO Elon Musk's massive pay package

Friday, 14 June 2024

Indices

Tesla shares higher as shareholders back $56bn Musk pay deal

Japanese yen drops as BoJ stands pat on rates, "stalls" until next meeting

Friday, 14 June 2024

Indices

Stocks rise, Japanese yen falls after BoJ "stalling tactic"

RBA, SNB, Bank of England rate decisions due next week

Thursday, 13 June 2024

Indices

Week ahead: RBA, Bank of England in stick or twist mode

Live Chat