SCHEDULE: SIG Funds Disclose 6.4% Stake in Webull Corp.
Beneficial Ownership Report
A group of investment funds, including SIG Global China Fund I, LLLP, SIG Asia Investment, LLLP, and HCM Asia, Inc., reported a collective 6.4% beneficial ownership in Webull Corporation.
Summary
- SIG Global China Fund I, LLLP, SIG Asia Investment, LLLP, and HCM Asia, Inc. collectively reported beneficial ownership of 24,152,813 Class A Ordinary Shares of Webull Corporation.
- This ownership represents 6.4% of Webull Corporation's Class A Ordinary Shares outstanding.
- As of May 9, 2025, Webull Corporation had 378,563,226 Class A Ordinary Shares outstanding, as indicated in its Prospectus (Registration No. 333-286880).
- SIG Asia Investment, LLLP serves as the investment manager to SIG Global China Fund I, LLLP, and HCM Asia, Inc. serves as the investment manager to SIG Asia Investment, LLLP.
- The reporting persons disclaim beneficial ownership of shares owned directly by another reporting person, except for their pecuniary interest therein.
Sentiment
Score: 5
Explanation: The filing is a standard regulatory disclosure of beneficial ownership and does not inherently convey positive or negative sentiment regarding the issuer's performance or outlook.
Future Outlook
The filing is a beneficial ownership report and does not contain any forward-looking statements or guidance regarding Webull Corporation's future performance or operations.
Industry Context
This filing is a routine disclosure of a significant ownership stake by investment funds in a publicly traded company, common in the financial industry as funds acquire positions that cross regulatory thresholds.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Limited Power of Attorney Grant | SIG Global China Fund I, LLLP granted limited power of attorney to SIG Asia Investment, LLLP, effective January 2, 2018, for entering into transactions and related actions. | 2018-01-02 | Formalizes the authority of SIG Asia Investment, LLLP to manage investments on behalf of SIG Global China Fund I, LLLP. |
| Limited Power of Attorney Grant | SIG Asia Investment, LLLP granted limited power of attorney to HCM Asia, Inc., effective June 1, 2025, for entering into transactions and related actions, following an assignment from Heights Capital Management, Inc. | 2025-06-01 | Formalizes the authority of HCM Asia, Inc. to manage investments on behalf of SIG Asia Investment, LLLP, succeeding a previous manager. |
Related Party Transactions
- SIG Asia Investment, LLLP serves as the investment manager to SIG Global China Fund I, LLLP, exercising voting and dispositive power over its shares.
- HCM Asia, Inc. serves as the investment manager to SIG Asia Investment, LLLP, exercising voting and dispositive power over the shares managed by SIG Asia Investment, LLLP.
Stakeholder Impact
- Shareholders of Webull Corporation are informed of a significant institutional ownership stake, which can influence market perception and trading dynamics.
Key Dates
| Date | Description |
|---|---|
| 2018-01-02 | Effective date of the Discretionary Investment Management Agreement between SIG Global China Fund I, LLLP and SIG Asia Investment, LLLP, granting limited power of attorney. |
| 2018-09-17 | Date of agreement between SIG Asia Investment, LLLP and Heights Capital Management, Inc. (HCMI) for investment management. |
| 2025-05-09 | Date of Webull Corporation's Prospectus filing (Registration No. 333-286880), indicating 378,563,226 shares outstanding. |
| 2025-06-01 | Effective date of the Assignment and Assumption Agreement transferring investment management rights and obligations from HCMI to HCM Asia, Inc. for SIG Asia Investment, LLLP. |
| 2025-06-30 | Date of event which required the filing of this Schedule 13G statement. |
| 2025-08-13 | Date of the Limited Power of Attorney given by SIG Global China Fund I, LLLP to SIG Asia Investment, LLLP. |
| 2025-08-13 | Date of the Limited Power of Attorney given by SIG Asia Investment, LLLP to HCM Asia, Inc. |
| 2025-08-14 | Date of the Joint Filing Agreement for the Schedule 13G. |
Keywords
Webull Corporation, Beneficial Ownership, Schedule 13G, Investment Fund, SIG Global China Fund I, SIG Asia Investment, HCM Asia Inc., Class A Ordinary Shares
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