A leading company in the private enterprise investment market went public through a PSPC merger announced on Monday.
The SPAC agreement: Forge Global announced a merger between SPAC and Motive Capital Corp (NYSE: MOTV).
The deal values the company at a post-currency valuation of $ 2 billion.
MOTV’s public shareholders will own 20.3% of the company after the merger.
The merger is expected to be finalized in Q4 2021 or Q1 2022.
Related Link: September PSPC Merger Calendar: An Overview of Upcoming Votes and Actions to Watch
About Forge Global: With a mission to create accessibility, liquidity and transparency for private markets, Forge Global is a leader in the field.
The company serves CEOs of private companies, employees of private companies, individual investors and institutional investors. Employees of private companies can sell their private stocks through the Forge Global platform.
Investors continue to seek exposure to rapidly growing private companies and access them through liquidity provided by Forge.
The company said its private business coverage increased 114% from 2018 to 2021.
Forge Global has 123,000 accredited investors, 639 institutional clients and over 399,000 registered users.
The company has offered shares in more than 400 private companies since its inception and has had a trading volume of more than $ 10 billion from buyers and sellers in 70 countries.
Forge Global has $ 14 billion in assets in custody as part of its Forge Trust custody offering.
Forge growth projections: A growing number of businesses are staying private longer. Forge seeks to attract these businesses and investors by providing a way for employees to stay happy and profit from the growth of a business and investors to profit from private market share gains.
Forge lists growth opportunities such as new product launches, global expansion, partnerships, new asset files, and mergers and acquisitions.
Forge receives transaction income, fee income, and subscriber-based income.
The company reported revenue of $ 72 million and expects its revenue to grow to $ 123 million in fiscal 2021 and $ 151 million in fiscal 2022.
MOTV price action: MOTV shares closed Monday’s trading session up 1.64% at $ 9.89.
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