Form 4: SK Growth Opportunities Corp Director Boehner Reports Share Conversion and Exchange in Webull Business Combination

Director John A. Boehner reports the conversion of Class B ordinary shares to Class A ordinary shares and the subsequent exchange of Class A ordinary shares for Webull Corporation Class A ordinary shares following the completion of the business combination with Webull Corporation.

Summary

• On April 10, 2025, SK Growth Opportunities Corp consummated its business combination with Webull Corporation.
• Director John A. Boehner reported transactions related to this business combination.
• Each Class B ordinary share held by Boehner was automatically converted into Class A ordinary shares on a one-to-one basis.
• Subsequently, each Class A ordinary share was cancelled and exchanged for Webull Corporation Class A ordinary shares on a one-to-one basis.
• Boehner's direct ownership of 40,000 Class A Ordinary Shares was eliminated as a result of the exchange.

Sentiment

Score: 7

Explanation: The document is a standard regulatory filing detailing the completion of a previously announced business combination. The sentiment is neutral to slightly positive as it marks the completion of a significant corporate event.

Future Outlook

The document does not contain any specific forward-looking statements beyond the completion of the business combination.

Industry Context

This announcement reflects the completion of a SPAC (Special Purpose Acquisition Company) merger, a common transaction structure in the financial industry. SK Growth Opportunities Corp merged with Webull Corporation, a fintech company, indicating a trend of SPACs targeting technology and financial services businesses.

Comparison to Industry Standards

• SPAC mergers are often compared based on deal terms, valuation multiples, and post-merger performance.
• Comparable companies and projects would include other SPAC mergers in the fintech space, such as SoFi's merger with Social Capital Hedosophia Corp V or Payoneer's merger with FTAC Olympus Acquisition Corp.
• The success of this merger will be judged by Webull's future growth, profitability, and market share compared to its peers like Robinhood, Interactive Brokers, and Charles Schwab.

Stakeholder Impact

• Shareholders of SK Growth Opportunities Corp now hold shares in Webull Corporation.
• The business combination is expected to provide Webull with additional capital and resources for growth.
• The completion of the merger impacts the ownership structure and potentially the future direction of both companies.

Key Dates

Keywords

Business Combination, Webull Corporation, SK Growth Opportunities Corp, Share Conversion, Share Exchange, Form 4, Beneficial Ownership, Director, Boehner