Webull's Warrant Redemption: A Time-Critical Opportunity to Capture Undervalued Upside

The June 30, 2025 redemption of Webull's incentive warrants (BULLZ) has created a pivotal moment for investors. With the stock's VWAP surpassing $18 for 30 days—triggering the redemption—holders face a stark choice: act decisively to capture upside or risk losing nearly all their warrant value. Here's why this is a rare asymmetric opportunity.

The Catalyst: A VWAP-Driven Opportunity

The redemption was triggered when Webull's Class A shares hit a 30-day VWAP above $18, a condition outlined in the Warrant Agreement. This milestone validates the stock's upward momentum, driven by Q1 2025 results: 32% revenue growth to $117.4M, a 45% rise in customer assets to $12.6B, and 24.1M registered users. These metrics underscore Webull's resilience amid market volatility, positioning it to sustain its current price of $13.22—already $3.22 above the $10 exercise price.

The Imminent Deadline and Valuation Gap

Warrant holders have until June 30 to exercise at $10, with unexercised warrants collapsing to $0.01. The current stock price offers an immediate 32% premium over the exercise price—a built-in margin of safety. Even if the stock dips below $10 post-redemption (unlikely given its strong fundamentals), holders who act now avoid the 99%+ value erosion of letting warrants expire.

Webull's Financial Forte and Expansion Blueprint

Webull isn't just surviving—it's scaling. Its Webull Premium subscription service (already 40K users) and international crypto trading expansion are growth catalysts. Meanwhile, the Q1 2025 adjusted operating profit of $28.7M signals operational efficiency. These factors suggest the stock could climb further, especially as the company rolls out corporate bond trading and mutual funds in 2025.

Dilution? A Temporary Cloud Over a Sunny Horizon

Critics cite the risk of dilution if warrants are widely exercised. But this is a short-term headwind. Webull's strategic focus on premium services and global crypto markets—markets with **$3T+ in crypto assets alone—positions it to absorb dilution while capturing share in high-growth verticals. The $0.01 redemption penalty is a market inefficiency: investors who ignore it pay a steep price.

Immediate Action Required

The clock is ticking. Warrant holders must:
1. Exercise by June 30 to lock in the $10 price.
2. Monitor the stock—even a modest rise to $15 would double the upside.
3. Contact the Warrant Agent (Continental Stock Transfer, 1-212-509-4000) for execution details.

Final Call: Act Before the Door Closes

The math is irrefutable: a $10 exercise price vs. a $13.22 stock, a 32% buffer, and a company primed for expansion. To ignore this window is to forfeit gains and accept near-zero value. For those who act, the rewards—coupled with Webull's proven resilience—are compelling. Time is running out—act now.