# EDGAR Filing Document

**Accession Number:** 0001827821
**File Stem:** 0001827821-25-000005
**Filing Date:** 2025-9
**Character Count:** 52055
**Document Hash:** dd21a0de0cc89f2ee7360a2d0d9e35ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001827821-25-000005.hdr.sgml**: 20250917

**ACCESSION NUMBER**: 0001827821-25-000005

**CONFORMED SUBMISSION TYPE**: 8-K/A

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250702

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250917

**DATE AS OF CHANGE**: 20250916

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Forge Global Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001827821
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39794
- **FILM NUMBER:** 251318256

**BUSINESS ADDRESS:**
- **STREET 1:** 415 MISSION ST.
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** 415-881-1612

**MAIL ADDRESS:**
- **STREET 1:** 415 MISSION ST.
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Motive Capital Corp
- **DATE OF NAME CHANGE:** 20201120

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MCF2 Acquisition Corp.
- **DATE OF NAME CHANGE:** 20201009

?xml version='1.0' encoding='ASCII'? forge-20250702

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K/A**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): July 2, 2025**

**Forge Global Holdings, Inc.**

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **001-39794** | **99-4383083** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission<br>File Number)** | **(I.R.S. Employer<br>Identification No.)** |

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| | |
|:---|:---|
| **4 Embarcadero Center**<br>**Floor 15**<br>**San Francisco, California**<br>**(Address of principal executive offices)** | **94111**<br>**(Zip Code)** |

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**(415) 881-1612**

**(Registrant's telephone number, including area code)**

**N/A**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange on<br>which registered** |
| **Common Stock, $0.0001 par value per share** | **FRGE** | **NYSE** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

**Explanatory Note**

On July 1, 2025, Forge Global Holdings, Inc., a Delaware corporation (the "<u>Company</u>"), Accuidity, LLC, a Delaware limited liability company ("<u>Accuidity</u>"), Margo Merger Sub I, LLC, a Delaware limited liability company and a wholly owned indirect subsidiary of the Company ("<u>Merger Sub I</u>") and Margo Merger Sub II, LLC, a Delaware limited liability company and a wholly owned indirect subsidiary of the Company ("<u>Merger Sub II</u>") completed the transactions contemplated by that certain Agreement and Plan of Merger, dated as of July 1, 2025 (the "<u>Merger Agreement</u>"), by and among the Company, Accuidity, Merger Sub I, Merger Sub II and Kostka LLC, a New York limited liability company, solely in its capacity as representative of the securityholders of Accuidity for certain purposes described in the Merger Agreement. Pursuant to the Merger Agreement, (i) Merger Sub I merged with and into Accuidity, with Accuidity surviving the merger as a wholly owned indirect subsidiary of the Company (the "<u>Surviving Company</u>", and such merger, the "<u>First Merger</u>") and (ii) the Surviving Company merged with and into Merger Sub II, with Merger Sub II surviving the merger as a limited liability company and indirect wholly owned subsidiary of Company (the "<u>Surviving Entity</u>" and such merger, the "<u>Second Merger</u>", and collectively with the First Merger, the "<u>Acquisition</u>").

This Current Report on Form 8-K/A amends Item 9.01 of the Current Report on Form 8-K filed by the Company on July 2, 2025 to include the historical financial statements of Accuidity and the pro forma financial information required by Item 9.01 of Form 8-K, attached hereto as Exhibits 99.1 and 99.2. The pro forma financial information included in this Form 8-K/A has been presented for informational purposes only, as required by Form 8-K. It does not purport to represent the actual results of operations that the Company and Accuidity would have achieved had the companies been combined during the periods presented in the pro forma financial information and is not intended to project the future results of operations that the combined company may achieve as a result of the Acquisition. Except as described above, all other information in the Company's Current Report on Form 8-K filed on July 2, 2025 remains unchanged.

**Item 9.01 Financial Statements and Exhibits.**

**(a) Financial Statements of Business Acquired.**

The Audited Statement of Assets Acquired and Liabilities Assumed of Accuidity as of July 1, 2025, the notes related thereto, and the related report of Wild, Maney & Resnick, LLP, Accuidity's independent registered public accounting firm as of July 1, 2025, are filed as Exhibit 99.1 and incorporated herein by reference.

Pursuant to a letter dated July 24, 2025 from the Securities and Exchange Commission's Division of Corporation Finance (the "<u>SEC</u>"), based on information the Company provided to the SEC, the SEC advised that the Company could provide the Audited Statement of Assets Acquired and Liabilities Assumed in lieu of the financial statements of Accuidity and any pro forma financial statements pursuant to Rule 11-01 for the purpose of complying with the requirements of Rule 3-05 of Regulation S-X.

**(b) Pro Forma Financial Information.**

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The unaudited pro forma condensed combined balance sheet of the Company and Accuidity as of June 30, 2025, the unaudited pro forma condensed combined statement of operations for the six months ended June 30, 2025, and the notes related thereto, are filed as Exhibit 99.2 and incorporated herein by reference.

**(d) Exhibits.**

The exhibits listed on the Exhibit Index are incorporated herein by reference.

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| | |
|:---|:---|
| **Exhibit<br>Number** | **Description** |
| 23.1 | <u>[Consent of Wild, Maney & Resnick LLP, independent registered public accounting firm of Accuidity.](frgeex-231wmrconsent.htm)</u> |
| 99.1 | <u>[Audited Statement of](accuiditystatementofassets.htm)[Assets Acquir](accuiditystatementofassets.htm)[ed and Liabilities Assumed of Accuidity](accuiditystatementofassets.htm)[and its subsidiaries as of July 1, 2025](accuiditystatementofassets.htm)[,](accuiditystatementofassets.htm)[and the notes related thereto.](accuiditystatementofassets.htm)</u> |
| 99.2 | <u>[Unaudited pro forma condensed combined balance sheet for the Company and Accuidity as of June 30, 2025, unaudited pro forma condensed combined statement of operations for the Company and Accuidity for the six months ended June 30, 2025, and the notes related thereto.](accuidityproforma.htm)</u> |

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**SIGNATURE**

Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | **Forge Global Holdings, Inc.** | **Forge Global Holdings, Inc.** |
| Date: September 16, 2025 | By: | /s/ Kelly Rodriques |
|  | Name: | Kelly Rodriques |
|  | Title: | Chief Executive Officer |

---

## Exhibit 23.1

 **Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We hereby consent to the inclusion in this Current Report on Form 8-K/A of our report dated September 15, 2025, with respect to our audit of the statement of assets acquired and liabilities assumed of Accuidity, LLC, as of July 1, 2025.

/s/ Wild, Maney & Resnick, LLP

Woodbury, NY

September 16, 2025

## Exhibit 99.1

**Accuidity LLC**

**Statement of Assets Acquired and Liabilities Assumed**

**As of July 1, 2025**

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**Accuidity LLC**

**Statement of Assets Acquired and Liabilities Assumed**

**Table of Contents**

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| | |
|:---|:---|
| | Page |
| Independent Auditor's Report | 1 - 2 |
| Statement of Assets Acquired and Liabilities Assumed as of July 1, 2025 | 3 |
| Notes to Statement of Assets Acquired and Liabilities Assumed | 4 - 9 |

---

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**Independent Auditor's Report**

Forge Global Holdings, Inc.

San Francisco, California

***Opinion***

We have audited the accompanying statement of assets acquired and liabilities assumed (the "financial statement") of Accuidity LLC ("Accuidity") as of July 1, 2025, and the related notes to the financial statement.

In our opinion, the accompanying financial statement presents fairly, in all material respects, the assets acquired and liabilities assumed of Accuidity as of July 1, 2025, in accordance with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

We conducted our audit in accordance with auditing standards generally accepted in the United States of America ("GAAS"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statement section of our report. We are required to be independent of Accuidity and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

***Emphasis of Matter***

As discussed in Note 2 to the financial statement, the accompanying financial statement was prepared for the purpose of complying with the rules and regulations of the Securities and Exchange Commission and is not intended to be a complete presentation of the financial position or results of operations of Accuidity. Our opinion is not modified with respect to this matter.

***Responsibilities of Management for the Financial Statement***

Management is responsible for the preparation and fair presentation of the financial statement in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the financial statement that is free from material misstatement, whether due to fraud or error.

***Auditor's Responsibilities for the Audit of the Financial Statement***

Our objectives are to obtain reasonable assurance about whether the financial statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statement.

In performing an audit in accordance with GAAS, we:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exercise professional judgment and maintain professional skepticism through the audit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Identify and assess the risks of material misstatement of the financial statement, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of Accuidity's internal control. Accordingly, no such opinion is expressed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statement.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

/s/ Wild, Maney & Resnick LLP

Woodbury, New York

September 15, 2025

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**ACCUIDITY LLC**

**Statement of Assets Acquired and Liabilities Assumed**

**As of July 1, 2025**

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| | |
|:---|:---|
| **Assets Acquired** | |
| &nbsp;&nbsp;Current assets: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash | $404286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 42714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 447000 |
| &nbsp;&nbsp;Goodwill | 24343622 |
| &nbsp;&nbsp;Intangible assets, net | 6650000 |
| **Total assets acquired** | $**31440622** |
| **Liabilities Assumed** |  |
| &nbsp;&nbsp;Current liabilities: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 35880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | 230000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 265880 |
| **Total liabilities assumed** | **265880** |
| **Net assets acquired** | $**31174742** |

---

See accompanying notes to the Statement of Assets Acquired and Liabilities Assumed

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**ACCUIDITY LLC**

**Notes to Statement of Assets Acquired and Liabilities Assumed**

**As of July 1, 2025**

**Note 1 – Description of the Business&nbsp;&nbsp;&nbsp;&nbsp;**

On July 1, 2025, Forge Global, Inc. ("FGI"), a wholly owned subsidiary of Forge Global Holdings, Inc. (the "Company"), acquired certain assets associated with Accuidity LLC ("Accuidity"), a specialized asset management firm focused on private market investing via a family of institutional index funds, single issuer investment funds, and early-stage venture funds, for total purchase consideration of $31.2 million. The purchase consideration consisted of $9.8 million in cash, subject to certain adjustments, 1,150,000 shares<sup>(1)</sup> of newly issued shares of the Company's common stock (NYSE:FRGE). a portion of which are subject to forfeiture and transfer restrictions, contingent consideration of $6.0 million and net working capital adjustments.

The total purchase price consisted of the following components:

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| | |
|:---|:---|
| | As of July 1, 2025 |
| **Total consideration:** |  |
| Cash consideration - upfront | $7257574 |
| Holdbacks: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indemnity escrow | 2250000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 278470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total holdbacks | 2528470 |
| Total cash consideration | 9786044 |
| Common stock consideration <sup>(1)</sup> | 15375308 |
| Contingent consideration <sup>(2)</sup> | 6022600 |
| Working capital adjustments, net | (9210) |
| &nbsp;&nbsp;Total fair value of purchase price | $31174742 |

---

(1)&nbsp;&nbsp;&nbsp;&nbsp;1,150,000 shares of newly issued shares of the Company's common stock at the closing share price of $18.70 on July 1, 2025 of which 327,791 shares are subject to service-based vesting conditions. Accordingly, these shares are excluded from the purchase consideration and will be accounted for as stock-based compensation on the parent company over the vesting period.

(2)&nbsp;&nbsp;&nbsp;&nbsp;See Note 3, Contingent Consideration and Earnout Arrangements, for additional information.

**Note 2 – Significant Accounting Policies**

***Basis of Presentation***

The accompanying statement is not a complete set of financial statements, but rather presents the net assets acquired and liabilities assumed in the acquisition of Accuidity at fair value as of July 1, 2025, in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 805, *Business Combinations* ("ASC 805"). Management used estimates and assumptions, with the assistance of independent valuation specialists, to estimate the fair value of the assets acquired and liabilities assumed. The purchase price allocation of the assets acquired and liabilities assumed is preliminary until contractual post-closing working capital adjustments, estimates, and assumptions are finalized, including the final independent valuation report. The final determination of the purchase price allocation of the assets acquired and liabilities assumed is required to be completed within twelve months of the acquisition date.

In accordance with a request for relief granted by the Securities and Exchange Commission ("SEC"), the Statement of Assets Acquired and Liabilities Assumed of Accuidity (the "Statement"), prepared on the basis of the Company's allocation of the

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purchase price, is provided in lieu of certain historical financial information of Accuidity required by Rule 3-05 of SEC Regulation S-X.

The acquisition of Accuidity was recorded using the acquisition method of accounting in accordance with ASC 805. The purchase price allocation was based on our valuation of the fair value of the tangible and intangible assets acquired and liabilities assumed on the date of acquisition and represents management's best estimate based on available data. The Company evaluated arrangements for contingent consideration to employees and selling shareholders to determine whether such arrangements should be treated as part of the business combination consideration or as a separate transaction. Based on the guidance in ASC 805-10-55-24 and an assessment of the relevant indicators, the Company concluded that the earnout met the criteria to be classified as purchase consideration. Additionally, the portion of common stock shares subject to service-based vesting conditions met the criteria to be classified as compensation and are excluded from the purchase consideration. The fair value of the contingent consideration was based on a Monte Carlo simulation. The fair value measurements were primarily based on significant inputs that are not directly observable in the market and are considered Level 3 under the fair value measurements and disclosure framework. Key assumptions include the timing and probability of SEC approval for the Registered Megacorn Fund, forecast net recurring revenue, revenue volatility, stock price volatility, market risk premium, counterparty risk premium, and expected timing of payments. Transaction costs associated with the acquisition were expensed as incurred. The excess of the purchase price over the estimated fair values of the identifiable net assets acquired was recorded as goodwill.

***Use of estimates***

The preparation of the statement in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the statement and certain statement disclosures. Significant estimates in the Statement include projections and other assumptions used in the valuation analysis, including the useful lives of identifiable intangible assets. These estimates are inherently subjective in nature and, therefore, actual results may differ from the Company's estimates and assumptions. The Company bases its estimates on historical experience and also on assumptions that it believes are reasonable.

The Company believes the estimates and assumptions underlying the Statement are reasonable and supportable based on the information available as of July 1, 2025. These estimates may change as additional information is obtained, and related financial impacts will be recognized as soon as those events become known.

***Cash and Cash Equivalents***

The Company considers all highly liquid investments with original maturities of three months or less from the date of purchase to be cash equivalents. At July 1, 2025, Accuidity did not have any such investments.

***Concentration of Credit Risk***

The Company maintains its cash balances with one financial institution, which at times may be more than Federal Deposit Insurance Corporation Limits. As of December 31, 2024, the uninsured balance totaled $154,286.

***Prepaid Expenses and Other Current Assets***

Prepaid expenses include amounts paid in advance for rent, subscriptions, and contracts whose term exceeds three months. Prepaid expenses are initially recorded as a current asset and amortized to expense over the period the goods or services are consumed. Other current assets include items such as advances to vendors and deposits.

***Goodwill***

Goodwill represents the excess of the aggregate fair value of the consideration transferred in a business combination over the fair value of the assets acquired, net of liabilities assumed. The preliminary purchase price allocation resulted in the recognition of $24.3 million of goodwill. The qualitative factors contributing to the recognition of goodwill include value attributable to the assembled workforce, expected synergies as a result of the business combination and other strategic benefits. None of the resultant goodwill is expected to be deductible for income tax purposes.

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Goodwill is not amortized but tested for impairment annually on October 1, or more frequently if events or changes in circumstances indicate the goodwill may be impaired.

***Intangible Assets***

Intangible assets are recognized apart from goodwill whenever an acquired intangible asset arises from contractual or other legal rights, or whenever it is capable of being separated or divided from the acquired entity and sold, transferred, licensed, rented, or exchanged, either individually or in combination with a related contract, asset or liability. Accuidity's intangible assets consist of investment management contracts, customer relationships, investment strategies and trade name portfolios, which are amortized using the straight-line method over periods of 3 to 10 years. The Company recognized certain intangible assets acquired as part of the acquisition.

*Investment management contracts*

Investment management contracts were acquired as part of the acquisition, consisting of advisory agreements related to certain funds. These contracts grant legally enforceable rights to earn Assets Under Management ("AUM")-based management and performance fees. The fair value of the investment management contracts was based on the multi-period excess earnings method ("MPEEM"), incorporating assumptions related to AUM growth, inflows/outflows, and fee structures. Investment management contracts will be amortized over an estimated useful life of 10 years using the straight-line depreciation method.

*Customer relationships*

Customer relationships were acquired as part of the acquisition, consisting of existing investor and co-investor relationships arising from prior fund participations and direct co-investments. These relationships provide the ability to generate fee income on future new-money transactions. The fair value of the customer relationships was based on the MPEEM, including assumptions related to follow-on investment rates, attrition, and fee generation. Customer relationships will be amortized over an estimated useful life of 4 years using the straight-line depreciation method.

*Investment strategies*

Investment strategies were acquired as part of the acquisition, consisting of proprietary strategies associated with the Megacorn Fund that transform a private market index into an investable, fee-generating product. The fair value of the investment strategies was based on the relief-from-royalty method, including assumptions related to forecast revenue and comparable royalty rates. Investment strategies will be amortized over an estimated useful life of 10 years using the straight-line depreciation method.

*Trade name portfolio*

The trade name portfolio was acquired as part of the acquisition, consisting primarily of rights to the "Megacorn" trade name. The fair value of the trade name portfolio was based on the relief-from-royalty method, including assumptions related to forecast revenue and comparable royalty rates. Investment strategies will be amortized over an estimated useful life of 10 years using the straight-line depreciation method.

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The following are preliminarily identified intangible assets and estimated lives over which intangible assets are expected to be amortized:

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| | | | |
|:---|:---|:---|:---|
| | **Estimated Useful Life** | **Amortization Method** | **July 1, 2025** |
| Investment management contracts | 10 years | straight-line | $1800000 |
| Customer relationships | 4 years | straight-line | 2800000 |
| Investment strategies | 10 years | straight-line | 1600000 |
| Trade name portfolio | 10 years | straight-line | 450000 |
| &nbsp;&nbsp;Total intangible assets |  |  | $6650000 |

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Future amortization expense associated with intangible assets with finite lives is expected to be:

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| | |
|:---|:---|
| | Amount |
| 2025 (remaining) | $659167 |
| 2026 | 1318333 |
| 2027 | 1318333 |
| 2028 | 851667 |
| 2029 | 385000 |
| Thereafter | 2117500 |
|  | $6650000 |

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***Accounts Payable***

Accounts payable relates to outstanding vendor invoices for services rendered but not paid as of July 1, 2025.

***Accrued Expenses***

Accrued expenses relate to income tax expense owed. Accuidity LLC elected to be taxed as a C-Corporation on February 5, 2025. The income tax expense is estimated based on the profit from February 5, 2025 through June 30, 2025. Final tax expense could differ from estimated amounts.

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**Note 3 – Contingent Consideration and Earnout Arrangements**

In connection with the acquisition of Accuidity, completed on July 1, 2025, the Company may be obligated to issue additional consideration in the form of Company common stock (the "Earnout Consideration"), contingent upon the achievement of certain regulatory approvals and financial performance milestones during defined measurement periods (collectively, the "Earnout Periods"). The Earnout Consideration is structured in three potential tranches.

For each tranche, the number of shares issuable will be calculated based on the volume-weighted average closing price ("VWAP") of the Company's common stock over the 30 consecutive trading days ending two trading days prior to the final determination date. The VWAP is subject to a floor of $15.00 and a cap of $18.75 per share.

*First Earnout Tranche*

The Company will be obligated to issue $4.2 million of Earnout Consideration in the form of common stock if, on or prior to December 31, 2026:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the registered Megacorn Interval Fund receives approval from the U.S. Securities and Exchange Commission (SEC), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Megacorn Fund validly issues registered fund securities to at least one new investor (together, the "First Earnout Achievement").

If these conditions are not met, no amount is payable under this tranche.

*Second Earnout Tranche*

The Company may be required to issue up to $5.4 million of Earnout Consideration in the form of common stock based on the level of Recurring Net Revenue, as defined in the merger agreement, achieved for the year ending December 31, 2026 (the "2026 Earnout Period"), as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If Recurring Net Revenue is below the 2026 Earnout Threshold Floor (as defined in the merger agreement), no amount will be payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If Recurring Net Revenue is between the 2026 Threshold Floor and the 2026 Threshold Ceiling, the Earnout Amount will equal $4.2 million multiplied by a fraction, the numerator of which is actual Recurring Net Revenue and the denominator of which is the 2026 Earnout Target (each term as defined in the merger agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If Recurring Net Revenue exceeds the 2026 Threshold Ceiling, the full Second Earnout Amount of $5.4 million will be payable.

*Third Earnout Tranche*

The Company may be required to issue up to $8.3 million of Earnout Consideration in the form of common stock based on Recurring Net Revenue performance for the year ending December 31, 2027 (the "2027 Earnout Period"), as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If Recurring Net Revenue is below the 2027 Earnout Threshold Floor (as defined in the merger agreement), no amount will be payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If Recurring Net Revenue is between the 2027 Threshold Floor and the 2027 Threshold Ceiling, the Earnout Amount will equal $4.2 million multiplied by a fraction, the numerator of which is actual Recurring Net Revenue and the denominator of which is the 2027 Earnout Target.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If Recurring Net Revenue exceeds the 2027 Threshold Ceiling, the full Third Earnout Amount of $5.4 million will be payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In addition, if no Second Earnout Amount was earned due to underperformance in the 2026 Earnout Period, and the 2027 revenue exceeds the 2027 Threshold Ceiling, the Third Earnout Amount will be increased by $2.9 million.

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**Note 4 – Subsequent Events**

The Company has evaluated subsequent events through September 15, 2025, the date the Statement was available to be issued.

## Exhibit 99.2

**UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION**

The following unaudited pro forma condensed combined financial information and related notes present the historical condensed combined financial information of Forge Global Holdings, Inc. ("Forge") and Accuidity, LLC ("Accuidity") after giving effect to Parent's acquisition of Accuidity ("Accuidity Acquisition") that was completed on July 1, 2025 (the "Acquisition Date").

The unaudited pro forma condensed combined balance sheet was prepared as if the Accuidity Acquisition had occurred on June 30, 2025. The unaudited pro forma condensed combined statement of operations for the six months ended June 30, 2025 was prepared as if the Accuidity Acquisition had occurred on January 1, 2025. For all periods after July 1, 2025, Accuidity's results will be included in the Forge consolidated financial statements.

The following unaudited pro forma condensed combined financial information is derived from the historical financial statements of Forge and Accuidity, and should be read in conjunction with Forge's historical consolidated financial statements included in its Quarterly Report on Form 10-Q for the period ended June 30, 2025 and Accuidity's Statement of Assets Acquired and Liabilities Assumed as of July 1, 2025, that are included as Exhibit 99.1 in this Form 8-K/A.

The unaudited pro forma condensed combined financial information has been prepared for illustrative purposes only and are not necessarily indicative of the financial condition or results of operations of future periods or the financial condition or results of operations that would have been realized had the entities been a single entity as of or for the periods presented.

Assumptions underlying the pro forma adjustments are described in the accompanying notes, which should be read in conjunction with the unaudited pro forma condensed combined financial information. The acquisition accounting adjustments are based on available information and assumptions that the Company's management believes are reasonable. Such adjustments are estimates and actual experience may differ from expectations.

The unaudited pro forma condensed combined financial statements are subject to closing adjustments that have not yet been finalized. Accordingly, the pro forma adjustments are preliminary and have been made solely for the purpose of providing unaudited pro forma condensed combined financial information as required by SEC rules. Differences between these preliminary estimates and the final combination accounting may be material.

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**UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET**

**AS OF JUNE 30, 2025**

(in thousands)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Historical** | **Historical** | | | | **Pro Forma** |
| | **Forge Global** | **Accuidity** |<br>**Acquisition Adjustments** |<br>**Notes** | | **Combined** |
| **Assets** | | | | | | |
| Current assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $54310 | $404 | $(9786) | a c |  | $44928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted cash | 1138 |  |  |  |  | 1138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 8119 |  |  |  |  | 8119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 10020 | 43 |  |  |  | 10063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 26393 |  |  |  |  | 26393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | $**99980** | $**447** | $**(9786)** |  |  | $**90641** |
| Internal-use software, property and equipment, net | 1557 |  |  |  |  | 1557 |
| Goodwill and other intangible assets, net | 126055 |  | 30994 | b |  | 157049 |
| Operating lease right-of-use assets | 3985 |  |  |  |  | 3985 |
| Payment-dependent notes receivable | 9604 |  |  |  |  | 9604 |
| Other assets, noncurrent | 1664 |  |  |  |  | 1664 |
| **Total assets** | $**242845** | $**447** | $**21208** |  |  | $**264500** |
| **Liabilities and stockholders' equity** |  |  |  |  |  |  |
| Current liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $2744 | $36 | $— |  |  | $2780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation and benefits | 13600 |  |  |  |  | 13600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 6765 | 230 |  |  |  | 6995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities, current | 2032 |  |  |  |  | 2032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | $**25141** | $**266** | $**—** |  |  | $**25407** |
| Operating lease liabilities, noncurrent | 3231 |  |  |  |  | 3231 |
| Payment-dependent notes payable | 9604 |  |  |  |  | 9604 |
| Warrant liabilities | 296 |  |  |  |  | 296 |
| Other liabilities, noncurrent | 329 |  | 6023 | a |  | 6352 |
| &nbsp;&nbsp;**Total liabilities** | $**38601** | $**266** | $**6023** |  |  | $**44890** |
| Stockholders' equity: |  |  |  |  |  |  |
| &nbsp;&nbsp;Preferred stock |  |  |  |  |  |  |
| &nbsp;&nbsp;Common stock | 1 |  |  |  |  | 1 |
| &nbsp;&nbsp;Treasury stock | (625) |  |  |  |  | (625) |
| Additional paid-in capital | 575676 | 181 | 15185 | a |  | 591042 |
| Accumulated other comprehensive income | 1193 |  |  |  |  | 1193 |
| Accumulated deficit | (375724) |  |  |  |  | (375724) |
| &nbsp;&nbsp;**Total Forge Global Holdings, Inc. stockholders' equity** | $**200521** | $**181** | $**15185** |  |  | $**215887** |
| &nbsp;&nbsp;Noncontrolling Interest | 3723 |  |  |  | $3723 | 3723 |
| &nbsp;&nbsp;**Total stockholders' equity** | $**204244** | $**181** | $**15185** |  |  | $**219610** |
| **Total liabilities and stockholders' equity** | $**242845** | $**447** | $**21208** |  |  | $**264500** |

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**UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS**

**SIX MONTHS ENDED JUNE 30, 2025**

(in thousands, except per share data)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Historical** | **Historical** | | | **Pro Forma** |
| | **Forge Global** | **Accuidity** |<br>**Acquisition Adjustments** |<br>**Notes** | **Combined** |
| **Revenues:** | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketplace revenue | $34594 | $2978 | $(7) | e | $37564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Custodial administration fees | 18441 |  |  |  | 18441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total revenues** | $**53035** | $**2978** | $**(7)** |  | $**56005** |
| **Transaction-based expenses:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction-based expenses | (347) | (22) | 1 | e | (367) |
| **Total revenues, less transaction-based expenses** | $**52688** | $**2956** | $**(6)** |  | $**55638** |
| **Operating expenses:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation and benefits | 56684 | 826 | 1799 | d f | 59309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Technology and communications | 9016 | 5 | (12) | c | 9010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 4398 | 68 | 2 | c | 4468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional services | 3536 | 668 | 6 | c e | 4210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advertising and market development | 2743 |  |  |  | 2743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related transaction costs | 1988 | 755 | (2743) | c g |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 1895 |  | 543 | b | 2438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rent and occupancy | 1732 | 43 |  |  | 1775 |
| **Total operating expenses** | $**81992** | $**2366** | $**(405)** |  | $**83952** |
| **Operating loss** | $**(29304)** | $**591** | $**399** |  | $**(28314)** |
| Interest and other income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income | 1845 |  |  |  | 1845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of warrant liabilities | (103) |  |  |  | (103) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income, net | 130 |  |  |  | 130 |
| **Total interest and other (expense) income** | $**1872** | $**—** | $**—** |  | $**1872** |
| **Loss before provision for income taxes** | $**(27432)** | $**591** | $**399** |  | $**(26442)** |
| Provision for income taxes | 1205 | 230 |  |  | 1435 |
| **Net loss** | $**(28637)** | $**361** | $**399** |  | $**(27877)** |
| **Net income (loss) attributable to noncontrolling interest** | 115 |  |  |  | 115 |
| **Net loss attributable to Forge Global Holdings, Inc.** | $**(28752)** | $**361** | $**399** |  | $**(27992)** |
| Net loss per share attributable to Forge Global Holdings, Inc. common stockholders: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $(2.30) |  |  |  | $(2.10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | $(2.30) |  |  |  | $(2.10) |
| Weighted-average shares used in computing net loss per share attributable to Forge Global Holdings, Inc. common stockholders: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 12503 |  | 822 | h | 13325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 12503 |  | 822 | h | 13325 |

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**NOTES TO UNAUDITED CONDENSED COMBINED PRO FORMA FINANCIAL INFORMATION**

**Note 1 - Basis of Pro Forma Presentation**

The unaudited pro forma condensed combined balance sheet has been prepared to give effect to the acquisition as if the transaction had occurred as of June 30, 2025. The unaudited pro forma condensed combined statement of income has been prepared to give effect to the acquisition as if the transaction had occurred as of January 1, 2025. The historical financial information has been adjusted to give effect to pro forma events that are (1) directly attributable to the acquisition, (2) factually supportable, and (3) with respect to the condensed combined income statement, expected to have a continuing impact on the combined results.

The unaudited pro forma condensed combined financial statements were prepared using the acquisition method of accounting in accordance with Financial Accounting Standards Board Accounting Standards Codification ("ASC") Topic 805, *Business Combinations* ("ASC 805"). Management used estimates and assumptions, with the assistance of independent valuation specialists, to estimate the fair value of the assets acquired and liabilities assumed. Goodwill as of the acquisition date is measured as the excess of purchase consideration over the fair value of net assets acquired. The determination of consideration paid and allocation to the assets acquired and liabilities assumed is based on preliminary estimates of fair value. The purchase price allocation of the assets acquired and liabilities assumed is preliminary until contractual post-closing working capital adjustments, estimates, and assumptions are finalized, including the final independent valuation report. The final determination of the purchase price allocation of the assets acquired and liabilities assumed is required to be completed within twelve months of the acquisition date.

The unaudited pro forma condensed combined financial information is presented for illustrative purposes only and is not necessarily indicative of the results of operations or financial position had the acquisition been consummated during the period presented, nor is it necessarily indicative of the results of operations in future periods or the future financial position of the combined entities.

The unaudited pro forma condensed combined financial information does not reflect any integration activities or savings from operating efficiencies or synergies that could result from the acquisition.

**Note 2 - Preliminary Purchase Consideration and Allocation**

On July 1, 2025 ("Acquisition Date"), Forge Global, Inc. (the "Company"), a wholly owned subsidiary of Forge Global Holdings, Inc. ("Forge"), acquired certain assets associated with Accuidity, LLC ("Accuidity"), a specialized asset management firm focused on private market investing via a family of institutional index funds, single issuer investment funds, and early-stage venture funds, for total purchase consideration of $31.2 million. The purchase consideration consisted of $10.0 million in cash, 1,150,000 shares of newly issued shares of Parent common stock (NYSE:FRGE), a portion of which are subject to forfeiture and transfer restrictions, contingent consideration of $6.0 million and net working capital adjustments.

The following table summarizes the components of the purchase consideration transferred based on the closing price of $18.70 per share of common stock on the Acquisition Date (in thousands):

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| | |
|:---|:---|
| Cash | $10000 |
| Common stock (1,150,000 shares at $18.70 per share) | 21505 |
| Contingent consideration | 6023 |
|  | 37528 |
| Less: post-combination share-based compensation (327,791 shares at $18.70 per share) | (6130) |
| Less: Adjusted working capital acquired | (223) |
| Purchase consideration | $31175 |

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The post-combination share-based compensation is subject to continuous employment and will be recognized as share-based compensation over the required service period of up to three years. The incremental compensation expense is reflected as an adjustment to the unaudited pro forma condensed combined statement of income (see Note 2 - Pro Forma Adjustments).

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The following table summarizes the preliminary allocation of the assets acquired and liabilities assumed based on their fair values on the Acquisition Date and the related estimated useful lives of the finite-lived intangible assets acquired (in thousands):

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| | | |
|:---|:---|:---|
| | | Preliminary estimated useful life |
| **Assets Acquired** |  |  |
| &nbsp;&nbsp;Cash | $404 |  |
| &nbsp;&nbsp;Other current assets | 43 |  |
| &nbsp;&nbsp;Finite-lived intangible assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment management contracts | 1800 | 10 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Customer relationships | 2800 | 4 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment strategies | 1600 | 10 years |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade name portfolio | 450 | 10 years |
| Total Assets Acquired | $7097 |  |
| **Liabilities Assumed** |  |  |
| &nbsp;&nbsp;Current liabilities | $266 |  |
| Total Liabilities Assumed | $266 |  |
| Net Assets Acquired | $6831 |  |
| Goodwill | 24344 |  |
| Total | $31175 |  |

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We believe the amount of goodwill resulting from the allocation of purchase consideration is primarily attributable to the assembled workforce and expected synergies of the business combination. Goodwill is not expected to be deductible for tax purposes. In accordance with ASC 805, goodwill is not amortized but instead is tested for impairment at least annually and more frequently if certain indicators of impairment are present.

Upon completion of the fair value assessment, the final purchase price allocation may differ from the preliminary assessment outlined above. Changes to the preliminary estimates of the fair value of the assets acquired and liabilities assumed will be recorded as adjustments to those assets and liabilities and any residual amount will be allocated to goodwill.

**Note 2 - Pro Forma Adjustments**

The pro forma adjustments included in the unaudited pro forma condensed combined financial information are as follows (in thousands except share data):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.To record adjustments related to consideration paid less Acquisition Date working capital.

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| | | | | |
|:---|:---|:---|:---|:---|
| | Cash and cash equivalents | Other liabilities, noncurrent | Common stock | Additional paid in capital |
| Cash payment | $10000 | $— | $— | $— |
| Acquired working capital | (214) |  |  |  |
| Contingent consideration |  | 6023 |  |  |
| Common stock issuance (822,209 shares at $18.70 per share) |  |  | \* | 15375 |
| Eliminate historical Accuidity equity |  |  |  | (190) |
| Total adjustments | $9786 | $6023 | $— | $15185 |

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\* amount less than $1

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.To record preliminary fair values of the intangible assets acquired and associated amortization expense for the six months ended June 30, 2025.

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| | | | |
|:---|:---|:---|:---|
| | Preliminary fair values | Preliminary estimated useful life | Amortization expense |
| Investment management contracts | $1800 | 10 years | $90 |
| Customer relationships | 2800 | 4 years | 350 |
| Investment strategies | 1600 | 10 years | 80 |
| Trade name portfolio | 450 | 10 years | 23 |
| Goodwill | 24344 |  |  |
| Total adjustments | $30994 |  | $543 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.To record the post-acquisition estimated working capital adjustments to be settled as per the merger agreement from the working capital holdback and associated expense impact for the six months ended June 30, 2025.

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| | |
|:---|:---|
| | (Increase) decrease |
| Technology and communications | $12 |
| General and administrative | (2) |
| Professional services | (12) |
| Acquisition-related transaction costs | (23) |
| Cash consideration adjustment | $(25) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.To record the effect of Acquisition Date share-based compensation expense in the amount of $766 thousand related to 327,791 shares of Forge's common stock at the closing share price of $18.70 on July 1, 2025 which are subject to service-based vesting conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.To eliminate pre-acquisition related party activities for the six months ended June 30, 2025.

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| | | | |
|:---|:---|:---|:---|
| | Marketplace revenue | Transaction-based expenses | Professional services |
| Distribution fees | $(1) | $1 | $— |
| Index license fees | (6) |  | 6 |
| Total eliminations | $(7) | $1 | $6 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.To record the effect of employment agreements executed in connection with the acquisition in the amount of $1,033 thousand as if such agreements had been executed on January 1, 2025. Such agreements are directly attributable to the acquisition and will have a continuing impact on the combined entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g.To eliminate acquisition-related expenses incurred that will not have a continuing impact on the combined entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h.To reflect the impact of common stock issued as consideration in connection with the acquisition. The effects of awards granted in connection with employment agreements which are subject to service-based vesting conditions are excluded.