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SK Growth Opportunities Corporation (SKGR-2.73%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's activities, including its ongoing search for a suitable business combination. The company is a blank check company incorporated in the Cayman Islands with no operating revenues as it seeks to complete a merger, share exchange, or similar business combination.
SK Growth Opportunities Corporation has entered into a Business Combination Agreement with Webull Corporation, which includes plans for a merger involving subsidiaries of Webull. The agreement outlines conditions and steps required to complete the transaction.
The company reported a net income of approximately $3.2 million for the year ended December 31, 2024, primarily due to income from investments held in the trust account.
As of December 31, 2024, the company had approximately $112.7 million held in a trust account, with funds intended for use in completing a business combination.
The filing notes that if the company does not complete a business combination by the deadline, it will redeem public shares and liquidate, with the trust account funds distributed to shareholders.
The company is subject to various risks, including potential inability to complete a business combination and dependency on third-party service providers for digital technologies.
The filing includes information on the company's management and board of directors, highlighting their experience and roles in guiding the company towards its business objectives.
SK Growth Opportunities Corporation continues to explore opportunities for a business combination, leveraging its management team's expertise and relationships within the industry.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SK Growth Opportunities Corporation annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.