Webull Corp (BULL) Announces Redemption of Incentive Warrants

Webull Corporation (Nasdaq: BULL) ("Webull" or the "Company"), the owner of the Webull online investment platform, announced today that it has delivered a notice of redemption to redeem on June 30, 2025 (the "Redemption Date") all of its outstanding incentive warrants (the "Incentive Warrants"; Nasdaq: BULLZ), which are exercisable for the Company's Class A ordinary shares, par value $0.00001 per share (the "Class A Ordinary Shares") at an exercise price of $10.00 per share and which were issued in connection with the closing of the Company's business combination under the Warrant Agreement, dated as of April 10, 2025 (the "Warrant Agreement"), by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent (the "Warrant Agent"). Any Incentive Warrants that remain unexercised at 5:00 p.m., New York City time, on the Redemption Date will be void and no longer exercisable and their holders will have no rights with respect to those Incentive Warrants, except to receive a redemption price of $0.01 per Incentive Warrant they hold (the "Redemption Price"). At the direction of the Company and pursuant to the Warrant Agreement, the Warrant Agent has delivered a notice of redemption to each registered holder of the outstanding Incentive Warrants.

Under the terms of the Warrant Agreement, the Company has the right to redeem all of the outstanding Incentive Warrants if the volume weighted average price of the Class A Ordinary Shares for the 30 trading-day period ending on the third trading day prior to the date on which the notice of redemption is given equals or exceeds $18.00 per Class A Ordinary Share. The volume weighted average price of the Class A Ordinary Shares for the 30 trading-day period ending on May 23, 2025, which is the third trading day prior to the date of the redemption notice, was greater than $18.00 per share.

The Incentive Warrants may be exercised by the holders thereof before 5:00 p.m. New York City time on the Redemption Date to purchase fully paid and non-assessable shares of Class A Ordinary Shares underlying such Incentive Warrants, at the exercise price of $10.00 per share. None of the Company, its board of directors or employees has made or is making any representation or recommendation to any holder of the Incentive Warrants as to whether to exercise or refrain from exercising any Incentive Warrants.

A prospectus covering the Class A Ordinary Shares issuable upon the exercise of the Incentive Warrants is included in a Registration Statement on Form F-1 (Registration No. 333-286880) (the "Registration Statement"), filed with, and declared effective by, the U.S. Securities and Exchange Commission (the "SEC").

Questions concerning redemption or exercise of the Incentive Warrants can be directed to Continental Stock Transfer & Trust Company, 1 State Street, 30th Floor, New York, New York 10004, Attention: Compliance Department, telephone number (212) 509-4000.

No Offer or Solicitation

This press release shall not constitute an offer to sell or the solicitation of an offer to buy or of a decision to exercise or to redeem any securities of the Company, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

You May Also Be Interested In

• Smith Micro files two SEC registration statements for existing securities
• Haoxi Health plans $4M registered direct offering at $0.40 a share
• Nuveen Churchill closes $100M note offering, totaling $400M due 2030