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SK Growth Opportunities Corp (NASDAQ:SKGR), a $182.67 million market cap company currently trading at $11.51, has amended its existing Business Combination Agreement, extending the deadline for completing its merger with Webull Corporation from March 31, 2025, to April 15, 2025. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value metrics. This development follows the company’s shareholder approval of the extension during a vote on March 28, 2025.
The extension allows SK Growth Opportunities additional time to finalize the merger, which includes a two-step acquisition process involving a first merger of SK Growth Opportunities with a Webull subsidiary, followed by a second merger with another subsidiary of Webull. The amendments to the agreement were made official on March 31, 2025. InvestingPro data reveals the company maintains a FAIR financial health score, though its current ratio of 0.02 suggests tight liquidity conditions.
In a related event, SK Growth Opportunities also amended its Investment Management Trust Agreement with Continental Stock Transfer & Trust Company. This amendment, approved by shareholders at the same meeting, extends the date for liquidating the trust account associated with the company’s initial public offering from March 31, 2025, to June 22, 2025, unless the board decides on an earlier date.
At the extraordinary general meeting held on March 30, 2025, shareholders voted in favor of the Business Combination Proposal, the Merger Proposal, and the Advisory Organizational Documents Proposals. Consequently, the proposal to adjourn the meeting was not required.
The voting results from the shareholder meetings indicate strong support for the merger and the related proposals. The approval percentages were significant, with 10,745,487 votes in favor and 1,053,217 votes against the Business Combination and Merger Proposals, and similar numbers for the Advisory Organizational Documents Proposals. Trading at a P/E ratio of 60.38, investors seeking deeper insights into the company’s valuation metrics can access additional analysis through InvestingPro, which offers exclusive financial health indicators and trading signals.
The information presented in this article is based on a press release statement from SK Growth Opportunities Corp.
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