Forge Global will begin to trade on the New York Stock Exchange today, having completed its merger with Motive Capital Corp as part of a SPAC combination.
To say that the IPO market has changed since last September is an understatement; the pace of public offerings from tech startups has slowed to a crawl in the wake of a sharp repricing of the value of technology stocks since late-2021 highs, TechCrunch reports. Richly valued private companies that might have targeted IPOs have pulled back on plans and the rate of new S-1 filings is de minimis.
This makes the timing of Forge’s public debut illustrative. The company’s combination and flotation will at once provide a data point regarding market appetite for such deals, and the company’s stock price will also reflect, to some degree, the level of investor optimism in other companies not going public.
Forge shares were up as much as 164% today. Read more.
