Forge Global Holdings, Inc. (NYSE: FRGE) confirmed that its stockholders approved the merger agreement with The Charles Schwab Corporation. The special meeting, held on January 22, 2026, saw 69.97% of voting shares represented, and 69.81% voted in favor of the merger. An additional 68.95% approved the executive‑compensation package tied to the transaction.
The vote cleared a key hurdle in the deal, allowing the parties to move forward toward a closing expected in the first half of 2026, subject to customary regulatory approvals. The high level of shareholder support reflects confidence in the strategic fit and the premium offered by Schwab.
Schwab’s acquisition of Forge Global is part of a broader strategy to deepen its private‑market offering. By integrating Forge’s marketplace for trading private company shares, Schwab will provide its retail and advisor clients with greater liquidity and access to alternative investments, while Forge gains access to Schwab’s extensive client base and capital resources.
Forge Global has faced persistent profitability challenges, reporting a trailing‑12‑month revenue of $92.88 million and operating and net margins of –71.39% and –67.42%, respectively. The merger offers a path to address these headwinds by leveraging Schwab’s scale and capital to accelerate growth and improve margins.
Analysts have adjusted their outlooks to reflect the $45 per‑share purchase price, which represents a 72% premium over Forge’s closing price at the time of the announcement. The focus has shifted from Forge’s standalone financial performance to the certainty of the transaction and the strategic benefits for both companies.
The parties anticipate that regulatory approvals will be obtained in a timely manner, and the transaction is expected to close in the first half of 2026. The approval of the merger by Forge’s shareholders removes a significant obstacle and positions the combined entity to capitalize on the expanding private‑market opportunity.
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