Next week, Forge Global (NYSE:FRGE) will have fewer shares trading on the New York Stock Exchange (NYSE).
Forge plans to complete a 1 for 15 reverse stock split on the commencement of trading on April 15th.
On March 27, 2025, shareholders approved a reverse stock split of the company’s stock at a ratio ranging from 1-for-3 to 1-for-50, to be determined at the discretion of the Board. The decision was driven by a need to comply with the NYSE’s minimum bid price requirement.
Forge Global is a private securities market secondary trading platform that provides access to shares in private firms that have yet to go public. While private markets have boomed as more firms seek to remain private for as long as possible, competition has increased in providing access to private securities traded on secondary platforms.
Yesterday, Forge provided insight into its Q1 performance, stating it anticipates top-line revenue of between $24.9 million and $25.1 million, an increase from the previous quarter, when the company generated $18.3 million.
Total trading volume reportedly increased 132% to $692.5 million, up from $299 million in the prior quarter.
Forge’s estimated net loss of is expected to be $16.2 million to $16.7 million. Cash and short-term investments are around $93.1 million
Forge CFO James Nevin said several large institutional block trades supported the improved results.
“In addition to increased market traction in the quarter, we continued to invest in our fully automated marketplace technology and in the distribution of our proprietary and industry-leading data as validated by our Yahoo Finance partnership. We’re pleased with our momentum and continued progress and look forward to sharing our full results in early May.”
Forge became a public firm in 2021 in a SPAC deal with Motive Capital. At that time, the merger valued Forge at up to $2 billion post-money. Today, Forge trades at a market cap of around $107 million. The shares have a 52 week high of $2.19 and currently trade at around $0.57.