Welcome to our dedicated page for SK Growth Opportunities Corporation news (Ticker: SKGR), a resource for investors and traders seeking the latest updates and insights on SK Growth Opportunities Corporation stock.
SK Growth Opportunities Corporation (NASDAQ: SKGR) is a blank check company established with the primary aim of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Formed on December 8, 2021, as a Cayman Islands exempted company, SK Growth is committed to partnering with experienced teams that address critical issues through innovative technologies. By building connections between businesses, people, and products, SK Growth fosters future prosperity.
As of February 28, 2024, SK Growth announced a definitive business combination agreement with Webull Corporation, a leading digital investment platform. This agreement marks a significant milestone for both entities. Upon completion of the transaction, the combined entity will retain the Webull brand and list its ordinary shares on NASDAQ under a new ticker symbol.
Founded in the United States in 2018, Webull has quickly emerged as a platform of choice for a new generation of investors. Offering an intuitive user experience and advanced trading capabilities, Webull has expanded its services across Asia Pacific, Europe, and Latin America. The company boasts over 20 million registered users globally and has been downloaded more than 40 million times.
The proposed transaction values the combined company at an implied pro forma enterprise value of approximately $7.3 billion. Both Webull and SK Growth shareholders have unanimously approved the transaction, which is expected to close in the second half of 2024, pending regulatory and shareholder approvals. Upon completion, Webull shareholders are expected to maintain 100% of their existing equity holdings, owning approximately 98% of the issued and outstanding equity of the combined entity.
The merger leverages SK Growth's experience and network to bolster Webull's growth in existing and new markets. The collaboration between these two entities promises to further Webull's goal of democratizing access to financial markets, thereby empowering retail investors globally.
For additional information, including a copy of the Business Combination Agreement and an investor presentation, please visit the SEC website. For more about Webull Corporation, visit Webull Corporation. To learn more about SK Growth, visit SK Growth Opportunities Corporation.
Swave Photonics has appointed Mike Noonen as CEO, succeeding Theodore Marescaux. Noonen aims to enhance the commercialization of Swave's Holographic eXtended Reality (HXR) technology, which delivers ultra-high-resolution 3D images for AR/VR applications. The technology is designed to revolutionize the metaverse experience without the need for headsets. Swave's HXR chips leverage diffractive photonics to achieve exceptional pixel resolution. The company is expanding its management and engineering teams to accelerate product development and market entry.
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