Private securities marketplace Forge Global saw its stock price more than double by midday on its first day of trading. Private securities marketplace Forge Global saw its stock price more than double by midday on its first day of trading. The company completed its merger with SPAC Motive Capital Corp. and began trading on the NYSE, opening at $11.06, slightly above its previous closing price of $10.06.
Forge Global, Inc. (“Forge”), a leading global private securities marketplace, today announced it has entered into a definitive business combination agreement with Motive Capital Corp (NYSE: MOTV.U), a special purpose acquisition company sponsored by affiliates of Motive Partners, a financial technology specialized private equity firm. Forge will become a publicly traded company upon the closing of the transaction, currently expected in the fourth quarter of 2021 or first quarter of 2022. The transaction reflects a $2.0 billion approximate valuation for the pro forma combined company.
Forge Global, a multinational private securities marketplace, has revealed that it has acquired FINRA approval to offer services as a single broker dealer with SharesPost after a merger last year. Forge Global has also finalized an oversubscribed investment round of over $150 million in new capital. Total investments secured to date, by Forge Global, have now surpassed $250 million with this most recent round including existing investor Deutsche Börse and new investors Temasek, Wells Fargo Strategic Capital, LUN Partners Group, True Global Ventures and several others.