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Technology Stocks : Investing in Exponential Growth

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To: Paul H. Christiansen who wrote (994)6/23/2022 11:38:34 PM
From: Frank Sully   of 998
 
Forge Global stock tumbles 23% as company moves to redeem warrants

SA News

Thu, June 9

Forge Global ( FRGE) shares tumbled 23% in late morning trading after the private securities marketplace announced it was redeeming all its outstanding public and future purchase warrants on July 11.

Shares of Forge opened at $11.86, hitting a low of $10.58 in early trading. The stock recently changed hands at $11.13, down 23%, at approximately 10:30 a.m. ET.


<<< Note: FRGE closed down 6% today (June 23, 2022) at $11.05, little changed in the last two weeks. >>>

Forge said in a statement early Thursday that its was redeeming the warrants to streamline its capital structure. Holders have until 5:00 p.m. ET on July 11 to exercise their warrants or have them declared void. The warrants are exercisable for an aggregate of 18.5M common shares at $11.50 per share.

Forge’s stock has been volatile since the company’s merger with SPAC Motive Capital in late March. Shares of the combined company finished their debut session at $16.15, up 60% from their pre-merger closing price of $10.11.
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