微牛美股招股说明书(2025-05-23版)

Ordinary Shares underlying Webull Incentive Warrants that are initially exercisable at $10.00 per share (subject to adjustment) by certain Existing Webull Shareholders and by holders of SKGRClass A Ordinary Shares that did not redeem such shares in connection with the Business Combination. Capitalized terms used but not defined herein have the meanings ascribed to them in the Prospectus.The purpose of this Prospectus Supplement No. 1 is to (i) revise certain information related to the Selling Securityholders named in the table and footnote 28 under the heading “SellingSecurityholders” in the Prospectus, and (ii) update and supplement the information included in the Prospectus with the information contained in our Report on Form 6-K which was submitted to theU.S. Securities and Exchange Commission (the “SEC”) on May 22, 2025 and is included immediately following the cover page of this Prospectus Supplement No. 1. 446,972*——————122,945*————324,027*————28Represents (i) (a) 10,538 Webull Class A Ordinary Shares held by Boothbay Absolute Return Strategies pursuant to Non-Redemption Agreements and (b) 27,155 Webull Class A OrdinaryShares held by Boothbay Absolute Return Strategies assuming the exercise of 27,155 Webull Public Warrants (such warrants or shares issuable upon exercise of the warrants are notoffered for resale pursuant to this prospectus), (ii) 4,515 Webull Class A Ordinary Shares held by Boothbay Diversified Alpha Master Fund, LP pursuant to Non-Redemption Agreements,(iii) (a) 18,245 Webull Class A Ordinary Shares held by Meteora Capital Partners, LP pursuant to Non-Redemption Agreements, (b) 18,720 Webull Class A Ordinary Shares held byMeteora Capital Partners, LP pursuant to Additional Non-Redemption Agreements and (c) 113,556 Webull Class A Ordinary Shares held by Meteora Capital Partners, LP assuming theexercise of 113,556 Webull Public Warrants (such warrants or shares issuable upon exercise of the warrants are not offered for resale pursuant to this prospectus), (iv) (a) 30,999 WebullClass A Ordinary Shares held by Meteora Select Trading Opportunities Master, LP pursuant to Non-Redemption Agreements, (b) 23,385 Webull Class A Ordinary Shares held by MeteoraSelect Trading Opportunities Master, LP pursuant to Additional Non-Redemption Agreements and (c) 165,045 Webull Class A Ordinary Shares held by Meteora Select TradingOpportunities Master, LP assuming the exercise of 165,045 Webull Public Warrants (such warrants or shares issuable upon exercise of the warrants are not offered for resale pursuant tothis prospectus), and (v) (a) 8,648 Webull Class A Ordinary Shares held by Meteora Special Opportunity Fund I, LP pursuant to Non-Redemption Agreements, (b) 7,895 Webull Class AOrdinary Shares held by Meteora Special Opportunity Fund I, LP pursuant to Additional Non-Redemption Agreements and (c) 18,271 Webull Class A Ordinary Shares held by MeteoraSpecial Opportunity Fund I, LP assuming the exercise of 18,271 Webull Public Warrants (such warrants or shares issuable upon exercise of the warrants are not offered for resale pursuantto this prospectus). Meteora Capital, LLC (“Meteora Capital”) serves as investment manager to Boothbay Absolute Return Strategies, Boothbay Diversified Alpha Master Fund, LP,Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, and Meteora Special Opportunity Fund I, LP (collectively, the “Meteora entities”). Voting and investment “BULLZ,” respectively. On May 21, 2025, the last reported prices of the Webull Class A Ordinary Shares, Webull Warrants and Incentive Warrants, as reported on the Nasdaq, were $12.59, $3.28Investing in our securities involves risks. See “Risk Factors” beginning on page 7 of the Prospectus. Neither the SEC nor any state securities commission has approved ordisapproved of these securities or determined if the Prospectus, as supplemented by this Prospectus Supplement No. 1, is truthful or complete. Any representation to the contrary is aThe date of this Prospectus Supplement No. 1 is May 22, 2025. Commission File Number: 001-42597 1 Name:Anquan WangTitle:Chief Executive Officer2 Customer assets increased 45% year-over-year, driven by increased customer net depositsDisciplined execution alongside robust revenue growth driving profitabilityST. PETERSBURG, FL., May 22, 2025 /PRNewswire/ – Webull Corporation(NASDAQ: BULL) (“Webull” or the “Company”) today announced financial results for the quarter ending March 31, “We are proud to have delivered a very strong first quarter, driven by significant account and trading volume growth that reflects continued demand for Webull’s differentiated trading platform,”said Anthony Denier, Webull’s Group President and U.S. CEO. “We believe our results speak to our strong value proposition, reliable and innovative platform, and focus on global distribution to globally, all with the goal of strengthening the customer experience to further expand our position as the advanced retail invest