Golden Flag Represents Webull Corporation on Business Combination with SK Growth Opportunities Corporation

Golden Flag International Law Firm is advising Webull Corporation, a leading digital investment platform, on its business combination with SK Growth Opportunities Corporation (NASDAQ: SKGR), a publicly traded special purpose acquisition company. The transaction values the combined business at a pro forma enterprise value of approximately $7.3 billion, assuming no further redemptions by SK Growth shareholders. Webull’s shareholders are expected to maintain 100% of their existing equity holdings in the combined company and, assuming gross proceeds of approximately $100 million to Webull from funds held in the SPAC trust account, are expected to own approximately 98% of the combined company immediately following the closing. The transaction was signed on February 28, 2024, and is expected to close in the second half of 2024, subject to regulatory and shareholder approvals and other customary closing conditions.

The Golden Flag team was led by corporate partner Jesse Sheley, capital markets partners Christian Nagler, Steve Lin and Justin You Zhou.