Webull Corporation (BULL) stock tumbled 6.78% in after-hours trading on Thursday, reaching $13.33 following $1B equity financing agreement with Yorkville Advisors.
Webull Corporation (BULL) has secured a significant financing option by entering into a standby equity purchase agreement with YA II PN, Ltd., an investment fund managed by Yorkville Advisors. Subject to customary conditions, this agreement allows Webull to issue up to $1.0 billion in Class A ordinary shares to Yorkville over three years. The subscription price per share will be at a 2.5% discount to the Market Price during each one-day pricing period selected by the company.
The shares had previously closed at $14.30 during regular trading. Earlier in the day, BULL opened at $14.60 and fluctuated between $13.92 and $15.15, with a total trading volume of 28.80 million shares.