10 Micro-, Small-Cap Companies Lead Monday’s Charge

7. Forge Global Holdings, Inc. (NYSE:FRGE)

Forge Global Holdings grew its share prices by 41.54 percent on Monday, a second day, to close at $12.30 apiece as investors snapped up shares in the company following news that it would merge with Accuidity Capital Management.

In a statement last week, FRGE said it entered into a non-binding term sheet with Accuidity and its controlling stockholders to acquire 100 percent of the latter’s interests for an initial cash purchase of $10 million and 1.15 million shares of Forge common stock issued at closing in a private placement transaction. Of the 1.15 million shares, more than 483,000 will be issued at closing of the agreement.

“Through the potential combination, Forge and Accuidity will seek to expand Forge’s asset management capabilities, with the aim to deliver a comprehensive set of investment products and private wealth solutions to Forge’s growing global client base and beyond,” FRGE said.

“If completed, Forge believes the acquisition will be accretive to EPS and transformational to Forge’s revenue streams, add new recurring revenue, and increase Forge’s confidence in achieving Adjusted EBITDA breakeven in 2026,” it added.