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Forge Global Holdings, Inc. reports developments in private-market infrastructure, including marketplace services, data services, technology and investment solutions for private market participants. Company announcements describe Forge Securities LLC, a FINRA-member registered broker-dealer that operates an alternative trading system, as well as Forge Europe UK Ltd's role as a Registered Auction Agent on the London Stock Exchange's Private Securities Market.
Recurring FRGE updates also cover operating and financial results, regulated private-market infrastructure, material agreements, shareholder voting matters, governance developments and capital-structure disclosures tied to the company's public-company history.
Forge Global Holdings reported its financial results for Q3 2022, revealing $15.8 million in revenue, down from $16.5 million in Q2 2022 and $27.1 million in Q3 2021. The company faced a net loss of $16.2 million, worsened from $5.1 million in the previous quarter and year. However, trading volume decreased by 32% quarter-over-quarter, while the net take rate increased 13% to 3.6%. Forge expanded into Europe with Deutsche Börse and launched new products, including a lending option for employees to exercise stock options.
Forge Global Holdings, Inc. (NYSE: FRGE) will report its third quarter 2022 financial results on November 9, 2022. Following the earnings release, management will host a conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss results. Investors can access the call by dialing 1 (888) 440-4165 or via a live webcast available on their investor relations website.
Forge Global specializes in marketplace infrastructure and data services for private markets, enhancing trading for private company shares.
Forge Global Holdings, Inc. (NYSE: FRGE) is expanding its operations into Europe by launching Forge Europe in partnership with Deutsche Börse. This digital platform aims to facilitate liquidity for private growth companies by providing a marketplace for private company shares and exclusive market data. The European private market has shown significant growth, with over 650 unicorns and a combined market cap exceeding €625 billion. Forge Europe plans to launch in mid-2023, targeting Germany, the UK, and France first, before further European expansion.
Forge Global Holdings, Inc. (NYSE: FRGE) reported its 2Q22 financial results, revealing total revenue less transaction-based expenses at $16.5 million, down from $37.1 million in 2Q21. The company experienced a total operating loss of $26.0 million, a significant increase from a loss of $0.8 million year-over-year. Net loss was reported at $5.1 million, improving from $8.0 million in the prior year. Despite challenges, Forge signed a strategic partnership with Morgan Stanley, and its custodial cash rose 10% to $680 million. Trading volume dropped 64% to $331.8 million, reflecting ongoing market disruptions.
Forge Global Holdings, Inc. (NYSE: FRGE) announced it will report its second quarter 2022 financial results on August 11, 2022, at 2:00 p.m. Pacific Time. Following the earnings release, management will host a conference call to discuss financial and business results. Investors can access the call by dialing 1 (888) 440-4165 within the U.S. or 1 (646) 960-0858 outside the U.S. A live webcast will be available on the Company’s Investor Relations website.
Forge is known for providing marketplace infrastructure and technology solutions for private market participants.
Forge Global Holdings (NYSE: FRGE) has appointed Johnathan H. Short as Chief Legal Officer and promoted Jose Cobos to President. Short brings 14 years of experience from the Intercontinental Exchange, where he oversaw legal and regulatory affairs, contributing to its growth into a $45 billion entity. Cobos, who joined Forge in 2019, has played a key role in the company's transition from private to public. These strategic appointments aim to bolster Forge's leadership as it seeks to enhance its marketplace for private securities.
Forge Global Holdings announced the completion of the redemption of its public and forward purchase warrants effective July 11, 2022. This move was prompted by Forge's common stock trading above $18.00 for 20 out of the last 30 trading days. Approximately 2 million of 18,466,604 warrants were exercised, generating around $22.9 million in cash. The redemption streamlined Forge's capital structure, reducing potential dilution and impacting diluted shares outstanding, now approximately 188 million. The company's common stock continues trading on NYSE under the symbol 'FRGE'.
Forge Global Holdings (NYSE: FRGE) announced the redemption of all outstanding Public Warrants and forward purchase warrants, streamlining its capital structure. Holders must exercise their Public Warrants by 5:00 p.m. EDT on July 11, 2022, or they will be void. The redemption price is set at $0.01 per warrant, contingent on the shares of Common Stock trading above $18.00 for specific trading days, a threshold that has been met. This move is expected to end trading of these warrants shortly after the redemption date.
Forge Global Holdings, Inc. (NYSE: FRGE) announced the appointment of Asiff Hirji to its Board of Directors, effective June 1. Hirji will also serve on the Risk Committee. His extensive experience, particularly in information technology and financial services, is expected to bolster Forge's growth in the private market sector. Previously, Hirji has held significant positions including President of Figure Technologies and President and COO of Coinbase. He is also recognized for his roles at TPG Capital and TD Ameritrade.
Forge Global Holdings (NYSE: FRGE) will engage in investor meetings and presentations at two key conferences. The first is the William Blair Growth Stock Conference on June 7, 2022, at Chicago, IL, featuring a presentation at 2:00 p.m. CT. The second is Piper Sandler’s Global Exchange & FinTech Conference on June 8, 2022, in New York City, NY, including a fireside chat at 12:30 p.m. CT. Archived webcasts will be available on Forge's Investor Relations website.