Forge Global Inc, a marketplace that allows people to trade in shares of private companies, will go public through a merger with a blank-check firm valuing the combined company at $2 billion.
The deal with Motive Capital Corp, announced on Monday, includes $68.5 million in funding from ION Group, Singapore state investor Temasek and Adit Ventures in the form of private investment in public equity, or PIPE.
Certain funds managed by Motive Partners, a private equity firm that sponsors Motive Capital Corp through its affiliates, have also offered to provide up to an additional $90 million as a backstop for the deal, in case the SPAC’s investors choose to redeem their shares.
Source: Reuters
