Forge Announces Completion of Redemption of Public Warrants

Forge Global Holdings, Inc. (NYSE: FRGE) (“Forge”), a leading private securities marketplace, today posted the results of its previously announced redemption of all its outstanding public warrants and forward purchase warrants (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 of the Public Warrants that remained outstanding at 5:00 p.m., New York City time, on July 11, 2022 (the “Redemption Date”) for a redemption price of $0.01 per Public Warrant. The redemption was triggered because the last sales price of Forge’s common stock was at least $18.00 per share for twenty (20) trading days within a thirty-day (30) period that ended June 6, 2022. Of the 18,466,604 warrants outstanding on July 11, 2022, approximately 2 million were exercised, and cash proceeds generated from these warrants were approximately $22.9 million.

In connection with the redemption, the Public Warrants ceased trading on the NYSE effective July 8, 2022. The redemption had no effect on the trading of Forge’s common stock, which continues to trade on the NYSE under the symbol “FRGE”. With the completion of this redemption, as of July 11, 2022, Forge no longer has any outstanding Public Warrants. Furthermore, as a result of the redemption, Forge’s total diluted shares outstanding is approximately 188 million as of July 11, 2022. Forge’s total basic shares outstanding is approximately 171 million as of July 11, 2022.

“The completion of the redemption of the Public Warrants represents the commitment to long-term value creation 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 associated warrant liability reduces potential dilution and decreases our fully diluted shares. This contributes to a more streamlined capital structure and strong balance sheet for investors and shareholders,” said Mark Lee, CFO of Forge.

About Forge

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

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