Webull SPAC

Overview

A special purpose acquisition company (SPAC) is a company formed strictly to raise capital through an IPO for the purpose of acquiring or merging with an existing company.

Also known as blank check companies, SPACs have existed for decades, but their popularity has soared in recent years. In 2020, 247 SPACs were created with $80 billion invested, and in 2021, there were a record 613 SPAC IPOs. By comparison, only 59 SPACs came to market in 2019.

Strategy

5W and Webull worked together to identify target reporters to share the news of Webull's SPAC merger with SK Growth Opportunities Corporation (NASDAQ: SKGR). With only 12 hours to pitch under embargo, 5W and Webull worked together to identify target reporters to share the news once approved by all boards. This exclusive strategy was to not limit the client to a specific publication. The team leveraged Group President and U.S. CEO, Anthony Denier, as spokesperson for this announcement and provided on-site support for broadcast interviews.