Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Added risk of cyber incidents on third-party service providers, potentially leading to data theft or corruption.
  • Initial shareholders now collectively own 52.1% of issued and outstanding ordinary shares, up from 20%.
  • Tax implications detailed for Business Combination with Webull, including potential taxable consequences for U.S. Holders.
  • Shareholders must approve business combination by September 30, 2024, extended from 18 months.
  • Increased regulatory compliance costs and risks due to changing laws and regulations, diverting management attention.
  • Ability to complete business combination extended to March 31, 2025, from September 30, 2024.
  • Potential shareholder litigation risks impacting business combination closing, leading to additional costs and delays.
  • Risks associated with acquiring China-based target company, including regulatory approvals and filings with CSRC.

Full Text Changes in Most Recent 10-K

Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.

To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1912461&owner=exclude

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