Webull Corp ( BULL ) shares are moving lower after the company announced a $1 billion standby equity agreement Thursday after the market close.

What Happened: Webull ( BULL ) announced that it secured a financing option through a standby equity purchase agreement with YA II PN, an investment fund managed by Yorkville Advisors.

The agreement gives the company an option to issue up to $1 billion in Class A ordinary shares to Yorkville over a three-year period. Yorkville will pay a 2.5% discount to the market price for any shares issued under the purchase agreement.

Webull ( BULL ) said it intends to strategically use the purchase agreement to raise and deploy capital as it needs.

“With access to capital available through the Purchase Agreement, Webull ( BULL ) is well positioned to pursue new growth opportunities, such as product expansion, new asset classes, and geographic expansion,” said Anthony Denier, group president and U.S. CEO of Webull ( BULL ).

“As we survey the evolving market landscape and consider next-generation technologies in the space such as stable coins and real-world asset tokenization, access to capital will be critical to our ability to innovate and compete on the cutting edge going forward.”

BULL Price Action: Webull ( BULL ) shares were down 4.27% in after-hours, trading at $13.69 at the time of publication Thursday, according to Benzinga Pro.

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