Blythe Masters SPAC Merger Sends Forge Global Stock Soaring
- Trading platform for private shares gains as much as 166%
- Masters was leader of Motive Capital blank-check company
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Forge Global Holdings Inc. soared in the first day of trading after completing its tie-up with a blank-check company led by Blythe Masters, the former JPMorgan Chase & Co. executive who helped create credit default swaps.
Shares of the private-securities marketplace gained as much as 166% in Tuesday trading on the New York Stock Exchange under the FRGE ticker. It’s the first session for Forge Global after it combined with special-purpose acquisition company Motive Capital Corp. Masters, who was Motive’s chief executive officer, will remain on the board of the combined entity.