Soulpower agrees to merge with SWB in $8.1 billion deal

Soulpower Acquisition Corporation (NYSE: SOUL) announced it signed a definitive business combination agreement with SWB LLC, a newly formed company that plans to launch SOUL WORLD BANK as a financial services conglomerate. The transaction values SWB at approximately $8.1 billion based on assets to be contributed prior to closing.

Under the agreement, SWB will acquire various assets valued at approximately $6.75 billion, including a banking license from Bank of Asia (BVI) Limited, real estate holdings across multiple countries, and mining assets. The portfolio includes 23 U.S. land and infrastructure assets, over 40,000 hectares in Mexico, oil and gas mineral rights in Louisiana, and gold mining properties in South Africa and Montana.

The combined entity will operate as SWB Holdings and plans to list on the New York Stock Exchange under the ticker "SOUL" following completion of the merger. Justin Lafazan, CEO of Soulpower and founder of SWB, will serve as chairman and CEO of the combined company.

SWB has secured a $5 billion committed equity facility through CREO Investments LLC, providing an equity line of credit post-closing subject to SEC registration requirements. The company also entered into agreements with technology firms NewCampus and Chainstarters for operational infrastructure, and a collaboration agreement with Animoca Brands for stablecoin development.

The transaction requires approval from Soulpower shareholders and is expected to close in the first quarter of 2026. All equity holders have agreed to a minimum one-year lock-up period on their shares, with most extending to three years or more.

Soulpower raised $250 million in its initial public offering in April 2025, underwritten by Cantor Fitzgerald. The banking license acquisition remains subject to regulatory and court approvals in the British Virgin Islands.

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