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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.
For extra SPAC information, try SA’s SPAC News page.
