Forge Global Bringing Access To Private Company Investments, Announces SPAC Deal To Continue Growth

A leading company in the private company investment market is going public via a SPAC merger announced Monday. 

The SPAC Deal: Forge Global announced a SPAC merger with Motive Capital Corp MOTV

The deal values the company at a post money valuation of $2 billion.

Public MOTV shareholders will own 20.3% of the company after the merger. 

The merger is expected to close in the fourth quarter of 2021 or first quarter of 2022.

Related Link: September SPAC Merger Calendar: A Look At Upcoming Votes And Stocks To Watch

About Forge Global: With a mission to create accessibility, liquidity and transparency for private markets, Forge Global is a leader in the space.

The company serves CEOs of private companies, employees of private companies, individual investors and institutional investors. Employees at private companies are able to sell their private shares via the Forge Global platform.

Investors continue to seek out exposure to fast growing private companies and get access via the liquidity provided by Forge.

The company said its private company coverage has increase 114% from 2018 to 2021.

Forge Global has 123,000 accredited investors, 639 institutional customers and over 399,000 registered users.

The company has offered shares in over 400 private companies since launching and has seen over $10 billion in trading volume from buyers and sellers in 70 countries.

Forge Global has $14 billion in assets under custody under its Forge Trust custody offering.

Forge's Growth Projections: A growing number of companies are staying private longer. Forge seeks to appeal to these companies and investors by offering a way for employees to stay happy and gain on the growth of a company and investors experience the share gains from the private market.

Forge lists growth opportunities as launching new products, global expansion, partnerships, new asset cases and mergers and acquisitions.

Forge receives revenue from transactions, fee revenue and subscriber-based revenue.

The company reported revenue of $72 million and is forecasting revenue to grow to $123 million in fiscal 2021 and $151 million in fiscal 2022.

MOTV Price Action: MOTV shares wrapped Monday's trading session 1.64% higher at $9.89. 

Market News and Data brought to you by Benzinga APIs
Posted In: M&ANewsSmall CapIPOsForge GlobalPrivate CompaniesSPACSPACs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!