Forge Global Holdings (NYSE:FRGE) cleared its final major internal hurdle on Friday, as stockholders voted to approve a $660 million acquisition by Charles Schwab.
The all-cash deal, first announced in November 2025, is set to transform the landscape for pre-IPO investing by integrating Forge’s secondary market infrastructure directly into the world’s largest retail brokerage ecosystem.
At a special meeting, nearly 70% of Forge’s total voting power was represented, with the vast majority of cast votes favoring the merger.
Under the terms of the agreement, Schwab will acquire all outstanding Forge shares for $45 each—a massive 72% premium over the stock’s price prior to the deal's leak.
The transaction is expected to close in the first half of 2026, pending final regulatory reviews.
The acquisition is the first major move under Schwab’s new CEO, Rick Wurster, who took the helm in early 2025.
By absorbing Forge, Schwab aims to "democratize" access to the innovation economy, allowing its massive client base—which holds nearly $12 trillion in assets—to buy and sell shares of "unicorns" and venture-backed startups long before they hit the public tape.