Webull slides after unveiling $1 billion equity deal

Webull

07/07/2025 14:46

** Trading platform Webull's BULL.O shares slide 14.1% to $12.28 in early trading

** BULL late Thursday announced it had entered into a standby equity purchase agreement with an investment fund managed by Yorkville Advisors

** Under the agreement, BULL has the option to issue up to $1 billion of shares to Yorkville over three years

** Per share price that Yorkville will pay will be a 2.5% discount to market price during each pricing period

** "As we survey the evolving market landscape and consider next-generation technologies in the space such as stable coins and real-world asset tokenization, access to capital will be critical to our ability to innovate and compete on the cutting edge going forward" - CEO Anthony Denier

** BULL has 484.7 million outstanding shares for $6.9 billion market cap, according to data compiled by LSEG

** As of last close, BULL stock up 23% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))