Webull Terminated Equity Agreement Signed in July 2025

Webull Corporation said it has terminated its standby equity purchase agreement (SEPA) with YA II PN, Ltd., bringing an end to a financing arrangement first signed in mid-2025.

The company delivered a notice of termination on April 1, 2026. The termination became effective on April 6, 2026. At the time the agreement ended, there were no pending advance notices, no shares scheduled for issuance, and no financial obligations remaining between the two parties.

The SEPA, signed on July 1, 2025, gave Webull the option to issue and sell up to $1.0 billion in Class A ordinary shares to Yorkville over time. Such agreements are typically used by listed firms to access capital in stages, depending on market conditions and funding needs.

Webull Terminated Equity Agreement Signed in July 2025

In practice, Webull used only a portion of the available facility. The company issued and sold 11,500,000 Class A ordinary shares under the agreement, raising total proceeds of $173.2 million. According to the company, no shares have been issued through the SEPA since September 2025.

The termination indicates that Webull no longer plans to rely on this specific funding channel. With no outstanding commitments tied to the agreement, the closure appears administrative rather than tied to unresolved obligations or disputes.

SEPA structures can provide flexibility, allowing companies to draw funds without committing to a fixed issuance schedule. However, they may also lead to shareholder dilution if used extensively. In this case, the total shares issued remained well below the maximum capacity outlined in the agreement.

Webull did not outline alternative financing plans in the announcement. The company also did not specify whether future capital needs would be met through similar agreements, debt financing, or other equity offerings.

The update reflects a shift away from the Yorkville arrangement after several months of inactivity, closing a chapter in Webull’s recent capital-raising strategy.

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