Private stock marketplace, Forge Global Holdings Inc. (NYSE:FRGE) confirmed on Monday that it is in discussions with multiple parties regarding a potential sale of the company, following a surge in its stock price amid growing media speculation.
FRGE stock is racing ahead of the pack. Review the technical setup here.
‘No Agreement’ Has Been Reached
The San Francisco-based company issued a statement saying that it had “received unsolicited inbound indications of interest from multiple parties,” which recognize the strategic role Forge could play “as private markets become a critical feature of the modern portfolio.”
The company has confirmed that it is “currently engaged in discussions regarding a potential sale,” and that it is currently holding talks with “multiple parties.”
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It highlighted that “no agreement has been reached,” so far, while noting that “there can be no assurance that any transaction will result from these discussions.”
Forge Global did not immediately respond to Benzinga’s request for a comment on this matter. This story will be updated as soon as we hear back.
Stock Surges Amid ‘Potential Sale’
Shares of Forge Global surged 11.55% on Monday, closing at $18.55 per share, and another 4.31% overnight, after the company confirmed that it was holding negotiations with multiple potential buyers.
Since going public over three years ago via a SPAC merger, Forge Global is currently down 96.71% since its all-time high in 2022, with its market capitalization dropping from $2 billion to just $250 million.
The stock scores poorly in Benzinga’s Edge Stock Rankings, with an unfavorable price trend in the short and medium terms, but a favorable trend in the long term. Click here for deeper insights into the stock, the platform, its rivals and more.
Disclaimer: Forge Global is scheduled to participate in Benzinga's Future of Digital Assets (FODA) conference next month.
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