Motive Capital shareholders voted in favor of the SPAC’s business combination with Forge Global, a private securities marketplace.
Nearly 94% of the votes cast were in favor of the deal, the SPAC said. Neither the news release nor a subsequent 8-K filing made mention of redemptions, if any.
As announced in September, the business combination was to be supported by $68.5 million in PIPE financing and a $50 million commitment under Motive Partners’ forward purchase agreement. Certain Motive Partners’ funds have committed an additional $90 million backstop. The SPAC raised $360 million in a December 2020 IPO.
After closing, Forge is expected to trade on the NYSE under the ticker FRGE. Read more.
