● Forge Global common stock to begin trading on the New York Stock Exchange under the ticker symbol “FRGE” starting March 22, 2022; combined company renamed Forge Global Holdings, Inc.
● Business combination closed on March 21, 2022; provides Forge Global with gross cash proceeds of approximately $215.6 million, prior to transaction fees and expenses, which included cash proceeds from Motive Capital Corp’s forward purchase agreement, PIPE investments, and funds released from Motive Capital Corp’s trust account
● Forge Global, Inc.’s Chief Executive Officer Kelly Rodriques will continue to lead the combined company as it executes its strategic plan
● Former Chief Executive Officer of Motive Capital Corp, Blythe Masters, will remain on the board of the combined company
SAN FRANCISCO–(BUSINESS WIRE)–Forge Global Holdings, Inc. (NYSE: FRGE) (“Forge Global”), a leading private securities marketplace, and Motive Capital Corp, a special purpose acquisition company sponsored by affiliates of Motive Partners, today announced the completion of their business combination to form a leading provider of mission-critical technology, data, and services for the private market.
The business combination will provide significant capital for the combined company to fund growth, accelerate its technology platform, strengthen its network position and unlock further opportunities for expansion. The business combination was approved at a special meeting of Motive Capital Corp’s shareholders held on March 15, 2022 and closed on March 21, 2022.
Motive Capital Corp was renamed Forge Global Holdings, Inc., and its common stock and warrants are expected to begin trading on the New York Stock Exchange (“NYSE”) on March 22, 2022 under the ticker symbols “FRGE” and “FRGE WS”, respectively.
“Completing our business combination with Motive Capital Corp and becoming a public company is a significant milestone for Forge and for the private market,” said Kelly Rodriques, CEO of Forge Global. “As a publicly traded company, we see vast opportunities to expand our business and offerings to ultimately create greater participation in private company liquidity for equity holders and investors.”
Blythe Masters, former CEO of Motive Capital Corp, said, “Motive is proud to support Forge on this important day, a day that encompasses years of hard work and steadfast commitment to a vision for the future of private markets. We look forward to supporting Forge on its journey beyond this milestone, which is by no means the final destination.”
For original report, please refer to: https://www.businesswire.com/news/home/20220322005330/en/