Forge Glo Hldg Stock Price, News & Analysis

Forge Global Holdings, Inc. (NYSE: FRGE), commonly referred to as Forge, operates in the finance and insurance sector within the securities and commodity exchanges industry. According to company and partner communications, Forge is a financial services platform created to serve the needs of the private market. It focuses on marketplace infrastructure, data services, and technology and investment solutions that support participants in private company securities.

Forge is described in multiple disclosures and press releases as a provider of a trading platform for private company shares, proprietary data and insights to inform investment strategies, and custody services that help companies, shareholders, institutions and accredited investors navigate and transact in the private market. Forge Securities LLC, a wholly owned subsidiary, is a registered broker-dealer and a member of FINRA that operates an alternative trading system, reflecting the company’s role in regulated private market infrastructure.

Forge’s business model centers on enabling access and liquidity in private markets. Company and partner statements highlight that Forge has facilitated a significant volume of private market transactions over more than a decade of operating regulated private market infrastructure, and that it supports assets across investment vehicles and custodial accounts. The platform is referenced as a venue where investors have bought and sold private company shares and where private companies can manage liquidity events and shareholder transactions.

Role in the private market ecosystem

Forge positions itself as a private securities marketplace and a provider of private market liquidity solutions. In communications with partners such as Silicon Valley Bank, Forge is described as offering issuer-led structured liquidity events, controlled shareholder transactions for employees, founders or early investors, and access to a large network of institutional investors interested in private companies. These activities align with its focus on secondary market liquidity and capital solutions for private companies and their stakeholders.

The company also emphasizes data and insights related to private markets. Forge publishes analyses such as the "Private Magnificent 7" list, which tracks a group of highly valued private companies and highlights themes like artificial intelligence and frontier technologies in the private market. This underscores Forge’s role not only as a transaction venue but also as a source of private market intelligence.

Regulatory and structural positioning

Forge operates through regulated entities, including an SEC-registered investment adviser, a broker-dealer, and a state-chartered trust company referenced in its public communications. Forge Securities LLC’s status as a registered broker-dealer and FINRA member operating an alternative trading system is consistently noted in company descriptions and regulatory filings. This structure supports the company’s emphasis on regulatory rigor, investor trust and stewardship of customer assets.

In the United Kingdom, Forge Europe UK Ltd, a majority-owned subsidiary of Forge Global, has become a Registered Auction Agent on the London Stock Exchange’s Private Securities Market under the UK’s PISCES framework. This role allows Forge UK to connect eligible investors to auction-based trading in private company shares on that market, expanding Forge’s reach into regulated European private-market liquidity channels.

Corporate developments and ownership

Forge is a Delaware corporation with its common stock listed on the New York Stock Exchange under the ticker symbol FRGE, as disclosed in multiple Form 8-K filings. On November 5, 2025, Forge entered into an Agreement and Plan of Merger with The Charles Schwab Corporation and a wholly owned Schwab subsidiary. Under this agreement, the Schwab subsidiary will merge with and into Forge, with Forge surviving as a wholly owned subsidiary of Schwab, and each outstanding share of Forge common stock (other than specified excluded and dissenting shares) will be converted into the right to receive a cash amount per share as set out in the merger agreement. The transaction remains subject to stockholder and regulatory approvals and other customary closing conditions described in the company’s Form 8-K.

Subsequent Form 8-K filings describe supplemental proxy disclosures and litigation relating to the proposed merger, including lawsuits challenging disclosures in the definitive proxy statement and seeking injunctive and other relief. Forge has stated that it believes the claims are without merit but has provided additional disclosures to minimize the risk of delay or adverse effects on the merger process.

Headquarters and facilities

Forge’s principal offices are located in San Francisco, California, as indicated in multiple SEC filings that list San Francisco, California as the city and state for the company’s address. An October 2025 Form 8-K details a lease agreement for office space in Four Embarcadero Center in San Francisco, which the company will continue to use as its headquarters for a defined term, reflecting its ongoing presence in that market.

Partnerships and market relationships

Forge engages in partnerships with financial institutions and market operators. A 2025 announcement describes a referral partnership with Silicon Valley Bank, under which SVB clients gain preferred access to Forge’s private liquidity solutions for cap table management, diversification of investor bases and employee liquidity. Another announcement details Forge UK’s role as a Registered Auction Agent on the London Stock Exchange’s Private Securities Market, providing eligible investors with access to auction-based trading in private company shares within a regulated framework.

Forge’s communications also reference relationships with institutional and alternative investors in private markets, and its participation in industry and investor conferences hosted by organizations such as UBS, Oppenheimer, William Blair and J.P. Morgan, where Forge executives discuss topics related to financial technology, portfolio construction and the evolution of private markets.

Corporate actions and acquisitions

Forge has engaged in corporate transactions to expand its capabilities. In July 2025, the company completed the acquisition of Accuidity, LLC through a two-step merger structure, resulting in Accuidity becoming an indirect wholly owned subsidiary of Forge. A subsequent Form 8-K/A provides audited financial information for the assets acquired and liabilities assumed, and unaudited pro forma financial information for the combined company. The acquisition is presented as part of Forge’s efforts to integrate additional capabilities into its platform.

Forge has also reported on executive compensation and equity arrangements in connection with the pending Schwab merger, including accelerated vesting of certain equity awards and related tax considerations under Sections 280G and 4999 of the Internal Revenue Code. These disclosures illustrate the governance processes around compensation in the context of a change-of-control transaction.

Stewardship and trust roles

In a 2026 communication, Forge announced that it had been selected, subject to final court approval and documentation, as the Liquidating Trustee of a liquidating trust holding customer-linked assets following Chapter 11 proceedings of Linqto, Inc. Under the court-approved framework, Forge will administer assets held on behalf of former Linqto customers through post-emergence structures established under Linqto’s plan of reorganization. Forge describes its role as holding and administering these assets and supporting pathways for customers to realize value over time in accordance with the plan.

This appointment is presented as consistent with Forge’s experience operating regulated private market infrastructure, including its SEC-registered investment adviser, broker-dealer and state-chartered trust company, and its history facilitating private market transactions and supporting assets across investment vehicles and custodial accounts.

Research, insights and thought leadership

Forge produces private market research and thematic analyses. The "Private Magnificent 7" report highlights a group of highly valued private companies in areas such as artificial intelligence, data analytics, payments, defense technology and space exploration. Forge uses this analysis to illustrate trends in private market valuations and the concentration of capital in certain high-growth sectors. This research function complements its transactional and custody services by providing context and benchmarks for private market participants.

Stock information and investor communications

Forge’s common stock trades on the New York Stock Exchange under the symbol FRGE, as noted in its SEC filings. The company provides investor communications through earnings releases, supplemental financial presentations and participation in investor conferences. Form 8-K filings reference the posting of supplemental financial information and key business metrics on the company’s investor relations site, along with corrections and updates where necessary to align with formal financial reporting.

Through these disclosures, Forge outlines its focus on marketplace infrastructure, data services, technology and investment solutions for private markets, its regulatory framework, its partnerships and acquisitions, and its pending transition to becoming a wholly owned subsidiary of The Charles Schwab Corporation if the proposed merger is completed under the terms described in the merger agreement.