Forge Announces Completion of Public Warrant Redemption


SAN FRANCISCO–(BUSINESS WIRE)–Forge Global Holdings, Inc. (NYSE: FRGE) (“Forge”), a leading private equity market, today released the results of its previously announced redemption of all of its public warrants and warrants outstanding (the “Public Warrants”).

On June 9, 2022, Forge issued a press release stating that, pursuant to the terms of the agreement governing the public warrants, it would redeem all remaining public warrants outstanding at 5:00 p.m. July December 11, 2022 (the “Redemption Date”) for a redemption price of $0.01 per public warrant. The buyback was triggered because the last sale price of Forge common stock was at least $18.00 per share on twenty (20) trading days during any thirty (30) day period that s closed on June 6, 2022. Of the 18,466,604 warrants outstanding on July 11, 2022, approximately 2 million were exercised and the cash proceeds generated by these warrants were approximately $22.9 million. of dollars.

As part of the buyout, the public warrants ceased trading on the NYSE effective July 8, 2022. The buyout had no effect on trading of Forge common stock, which continues to trade on the NYSE under the symbol “FRGE”. With the completion of this redemption, effective July 11, 2022, Forge no longer has any public warrants outstanding. In addition, following the repurchase, the total number of diluted shares outstanding of Forge is approximately 188 million as of July 11, 2022. The total number of basic shares outstanding of Forge is approximately 171 million as of July 11, 2022.

“Completing the redemption of the public warrants represents the long-term value creation commitment we made to our shareholders when we went public in March 2022. The simultaneous addition of cash to our balance sheet by investors who see our vision and the removal of the warrant liability reduces potential dilution and lowers our fully diluted shares. This contributes to a more streamlined capital structure and a strong balance sheet for investors and shareholders,” said Mark. Lee, chief financial officer of Forge.

About Forge

Forge is a leading provider of market infrastructure, data services and technology solutions for private market players. By combining world-class trading technology and operational expertise, Forge Markets enables private company shareholders to trade private company stocks with accredited investors. Forge Company Solutions, Forge Data and Forge Trust and Forge Markets help provide the additional transparency, access and solutions that companies as well as institutional and accredited investors need to navigate the markets with confidence and transact efficiently. private. Securities-related services are offered by Forge Securities LLC (“Forge Securities”), a wholly owned subsidiary of Forge. Forge Securities is a registered broker and member of FINRA/SIPC, an alternative trading system.


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