Non-public securities market Forge International (NYSE:FRGE) noticed its inventory hit a 52-week low on Wednesday forward of a beforehand introduced redemption of all of its excellent public warrants.
Shares of Forge opened at $10.34, hitting a session excessive of $10.40 early earlier than sliding to hit a 52-week low of $8.70. The inventory closed at $8.76, down 15%.
Forge shares have been risky because the firm went public through a merger with SPAC Motive Capital in late March. The inventory reached a 52-week excessive of $47.50 on March 31.
The inventory took a tough hit on June 9 after Forge introduced it was redeeming all its outstanding public and future purchase warrants on July 11. Forge stated it was making the transfer to streamline its capital construction.
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