Jet.AI (JTAI) May Invest Up To $20M in New Data-Center JV

Q: How much has Jet.AI invested so far in the Convergence Compute joint venture?

At the first closing, Jet.AI contributed $300,000 for a 0.5% equity stake.

Q: What are the future cash obligations for Jet.AI under the JV Agreement?

Jet.AI may invest an additional $19.7 million across four optional tranches tied to specific development milestones.

Q: What ownership will Jet.AI receive if all milestones are met?

It could hold up to 2.5% of Convergence Compute and 17.5% interests in each Midwest and Maritime data-center subsidiary.

[8-K] Forge Global Holdings, Inc. Reports Material Event

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Jet.AI Inc. (Nasdaq: JTAI) filed an 8-K disclosing the execution of a Joint Venture Agreement ("JV Agreement") on 26 Jun 2025 and a related Contribution Agreement on 2 Jul 2025 with Consensus Core Technologies and Convergence Compute LLC. The purpose is to co-develop data-center projects in the U.S. Midwest and Maritime regions.

Initial closing: Jet.AI contributed $300,000 in cash for a 0.5% equity stake in Convergence Compute. The transaction closed on 2 Jul 2025.

Future funding framework:

Total potential cash commitment by Jet.AI: up to $20 million across five tranches tied to specific development milestones.
Milestone schedule: $1.7 m (second closing), $2.0 m (third), $4.0 m (fourth), and $12.0 m (fifth).
Equity economics: for each of the second and third closings Jet.AI and Consensus Core each receive 17.5% ownership in the related data-center project subsidiaries. Jet.AI鈥檚 equity in Convergence Compute can rise to 2.5% if all tranches are funded; it also receives a further 0.5% stake in the parent LLC at each closing.
Optionality: Jet.AI is not obliged to complete the fourth and fifth closings and may accelerate contributions (minimum $2 m) at its discretion.

Risk/forfeiture provisions: If Jet.AI declines to fund a tranche after qualifying milestones are met, it forfeits the right to future tranches and its project-level equity will be reduced per the JV terms.

The agreements contain customary reps, warranties and covenants; full texts are filed as Exhibits 10.1 and 10.2. A press release announcing the JV (Exhibit 99.1) was issued 26 Jun 2025. The filing reiterates forward-looking statement cautionary language.

Jet.AI Inc. (Nasdaq: JTAI) present贸 un formulario 8-K informando la ejecuci贸n de un Acuerdo de Joint Venture ("Acuerdo JV") el 26 de junio de 2025 y un Acuerdo de Contribuci贸n relacionado el 2 de julio de 2025 con Consensus Core Technologies y Convergence Compute LLC. El prop贸sito es desarrollar conjuntamente proyectos de centros de datos en las regiones del Medio Oeste y Mar铆timas de Estados Unidos.

Cierre inicial: Jet.AI aport贸 300,000 d贸lares en efectivo a cambio de una participaci贸n accionaria del 0.5% en Convergence Compute. La transacci贸n se cerr贸 el 2 de julio de 2025.

Marco de financiamiento futuro:

Compromiso total potencial en efectivo por parte de Jet.AI: hasta 20 millones de d贸lares distribuidos en cinco tramos vinculados a hitos espec铆ficos de desarrollo.
Calendario de hitos: 1.7 millones (segundo cierre), 2.0 millones (tercero), 4.0 millones (cuarto) y 12.0 millones (quinto).
Econom铆a accionaria: para el segundo y tercer cierre, Jet.AI y Consensus Core recibir谩n cada uno el 17.5% de propiedad en las subsidiarias de los proyectos de centros de datos relacionados. La participaci贸n de Jet.AI en Convergence Compute puede aumentar hasta un 2.5% si se financian todos los tramos; adem谩s, recibe un 0.5% adicional en la LLC matriz en cada cierre.
Opcionalidad: Jet.AI no est谩 obligada a completar el cuarto y quinto cierre y puede acelerar las contribuciones (m铆nimo 2 millones) a su discreci贸n.

Cl谩usulas de riesgo/p茅rdida: Si Jet.AI decide no financiar un tramo tras cumplirse los hitos correspondientes, pierde el derecho a los tramos futuros y su participaci贸n en el proyecto se reducir谩 seg煤n los t茅rminos del JV.

Los acuerdos incluyen representaciones, garant铆as y convenios habituales; los textos completos est谩n archivados como Anexos 10.1 y 10.2. Un comunicado de prensa anunciando la JV (Anexo 99.1) fue publicado el 26 de junio de 2025. La presentaci贸n reitera el lenguaje de advertencia sobre declaraciones prospectivas.

Jet.AI Inc. (雮橃姢雼�: JTAI)電� 2025雲� 6鞗� 26鞚� 頃╈瀾韴瀽瓿勳暯靹�("JV 瓿勳暯") 觳搓舶瓿� 2025雲� 7鞗� 2鞚� Consensus Core Technologies 氚� Convergence Compute LLC鞕€ 甏€霠悳於滌瀽瓿勳暯靹滊ゼ 8-K 氤搓碃靹滌棎瓿店皽頄堨姷雼堧嫟. 氇╈爜鞚€ 氙戈淡欷戩劀攵€ 氚� 頃挫枒歆€鞐棎靹� 雿办澊韯� 靹柬劙頂勲鞝濏姼毳� 瓿惦彊臧滊皽頃橂姅瓴冹瀰雼堧嫟.

齑堦赴韥措歆�: Jet.AI電� 順勱笀 30毵� 雼煬毳� 於滌瀽頃橃棳 Convergence Compute鞚� 0.5% 歆€攵勳潉旆摑頄堨姷雼堧嫟. 瓯半灅電� 2025雲� 7鞗� 2鞚� 膦呺霅橃棃鞀惦媹雼�.

頄ロ泟鞛愱笀臁半嫭頂勲爤鞛勳泴韥�:

Jet.AI鞚� 齑� 鞛犾灛鞝� 順勱笀於滌瀽鞎�: 雼れ劘彀鞚� 攵勴暊雮╇秬搿� 斓滊寑 2,000毵� 雼煬, 臧� 攵勴暊鞚€ 韸轨爼臧滊皽毵堨澕鞀ろ啢鞐� 鞐瓣硠霅�.
毵堨澕鞀ろ啢鞚检爼: 170毵� 雼煬(霊� 氩堨Ц 韥措歆�), 200毵� 雼煬(靹� 氩堨Ц), 400毵� 雼煬(雱� 氩堨Ц), 1,200毵� 雼煬(雼れ劘氩堨Ц).
歆€攵� 甑“: 霊� 氩堨Ц鞕€ 靹� 氩堨Ц 韥措歆� 鞁� Jet.AI鞕€ Consensus Core電� 臧侁皝甏€霠� 雿办澊韯� 靹柬劙頂勲鞝濏姼鞛愴殞靷� 歆€攵� 17.5%毳� 旆摑頃╇媹雼�. Jet.AI鞚� Convergence Compute 歆€攵勳潃氇摖攵勴暊雮╇秬臧€ 鞕勲霅橂┐ 斓滊寑 2.5%旯岇 歃濌皜頃� 靾� 鞛堨溂氅�, 臧� 韥措歆曤雼� 氇殞靷� LLC 歆€攵� 0.5%毳� 於旉皜搿� 氚涭姷雼堧嫟.
鞓奠厴: Jet.AI電� 雱� 氩堨Ц鞕€ 雼れ劘氩堨Ц 韥措歆曥潉鞕勲頃� 鞚橂臧€ 鞐嗢溂氅�, 斓滌唽 200毵� 雼煬鞚挫儊鞚� 鞛愳湢搿矊鞎炿嫻瓴� 於滌瀽頃� 靾� 鞛堨姷雼堧嫟.

鞙勴棙氚� 氇办垬臁绊暛: Jet.AI臧€ 毵堨澕鞀ろ啢雼劚頉� 攵勴暊雮╇秬毳� 瓯半秬頃� 瓴届毎, 頄ロ泟攵勴暊雮╇秬甓岆Μ毳� 靸侅嫟頃橂┌ JV 瓿勳暯臁瓣贝鞐� 霐半澕頂勲鞝濏姼氤� 歆€攵勳澊於曥唽霅╇媹雼�.

瓿勳暯靹滌棎電� 鞚茧皹鞝侅澑歆勳垹, 氤挫 氚� 鞎届啀鞚� 韽暔霅橃柎鞛堨溂氅�, 鞝勳泊氍胳劀電� 攵€靻嶌劀 10.1 氚� 10.2鞐� 鞝滌稖霅橃柎鞛堨姷雼堧嫟. JV 氚滍憸氤措弰鞛愲(攵€靻嶌劀 99.1)電� 2025雲� 6鞗� 26鞚检棎氚绊彫霅橃棃鞀惦媹雼�. 氤搓碃靹滌棎電� 氙鸽灅鞓堨浮歆勳垹鞐� 雽€頃� 欤检潣氍戈惮臧€ 氚橂车氇呾嫓霅橃柎鞛堨姷雼堧嫟.

Jet.AI Inc. (Nasdaq : JTAI) a d茅pos茅 un formulaire 8-K r茅v茅lant la signature d鈥檜n accord de coentreprise ("Accord JV") le 26 juin 2025 et d鈥檜n accord de contribution connexe le 2 juillet 2025 avec Consensus Core Technologies et Convergence Compute LLC. L鈥檕bjectif est de co-d茅velopper des projets de centres de donn茅es dans les r茅gions du Midwest et Maritimes des 脡tats-Unis.

Cl么ture initiale : Jet.AI a apport茅 300 000 $ en num茅raire pour une participation de 0,5 % dans Convergence Compute. La transaction s鈥檈st conclue le 2 juillet 2025.

Cadre de financement futur :

Engagement total potentiel en num茅raire de Jet.AI : jusqu鈥櫭� 20 millions de dollars r茅partis en cinq tranches li茅es 脿 des jalons de d茅veloppement sp茅cifiques.
Calendrier des jalons : 1,7 M$ (deuxi猫me cl么ture), 2,0 M$ (troisi猫me), 4,0 M$ (quatri猫me) et 12,0 M$ (cinqui猫me).
脡conomie de l鈥櫭﹒uit茅 : pour les deuxi猫me et troisi猫me cl么tures, Jet.AI et Consensus Core recevront chacun 17,5 % de propri茅t茅 dans les filiales des projets de centres de donn茅es concern茅s. La participation de Jet.AI dans Convergence Compute peut atteindre 2,5 % si toutes les tranches sont financ茅es ; elle re莽oit 茅galement 0,5 % suppl茅mentaires dans la soci茅t茅 m猫re LLC 脿 chaque cl么ture.
Optionnalit茅 : Jet.AI n鈥檈st pas oblig茅e de finaliser les quatri猫me et cinqui猫me cl么tures et peut acc茅l茅rer ses contributions (minimum 2 M$) 脿 sa discr茅tion.

Clauses de risque/forfaiture : Si Jet.AI refuse de financer une tranche apr猫s que les jalons requis ont 茅t茅 atteints, elle perd le droit aux tranches futures et sa participation au niveau du projet sera r茅duite selon les termes de la JV.

Les accords contiennent les d茅clarations, garanties et engagements habituels ; les textes complets sont d茅pos茅s en tant qu鈥橢xhibits 10.1 et 10.2. Un communiqu茅 de presse annon莽ant la JV (Exhibit 99.1) a 茅t茅 publi茅 le 26 juin 2025. Le d茅p么t rappelle les avertissements relatifs aux d茅clarations prospectives.

Positive

Milestone-based funding limits Jet.AI鈥檚 obligation until project risk is incrementally reduced.
Strategic diversification into data-center infrastructure could open new revenue streams beyond core aviation-related operations.
Acceleration option allows Jet.AI to control timing and possibly negotiate better project economics.

Negative

Disproportionate capital versus ownership: up to $20 m for at most 2.5% of Convergence Compute and 17.5% per project subsidiary.
Forfeiture clause risks loss of prior investments if later tranches are not funded within 60 business days after milestone achievement.
Lack of financial metrics: the filing provides no projected returns, revenue, or valuation data for the data-center assets.
Execution dependencies on permits, power agreements, and tenant LOIs introduce material timetable and regulatory risk.

Insights

TL;DR: $300k deployed now, optional $19.7m later for minority stakes; strategic upside vs. dilution trade-off鈥攐verall neutral impact.

Assessment: The structure offers Jet.AI low-cost entry into data-center infrastructure with milestone-based funding that limits near-term cash drain. However, the economics are thin: a maximum 2.5% parent-level stake plus 17.5% per project seems modest relative to the potential $20 m outlay. Optional tranches protect liquidity, yet forfeiture clauses can erode earlier equity if management stops funding. Absent revenue or IRR projections, the venture鈥檚 accretion to shareholders is unclear. Net effect is strategically interesting diversification but financially indeterminate鈥�rating 0 (neutral).

TL;DR: High capital at risk for small ownership; milestone slip or funding gaps could impair equity鈥攏egative risk-skew.

Key risks: 1) Jet.AI鈥檚 equity scales only if it funds all tranches; failure to do so triggers automatic forfeiture within 60 business days, potentially writing off earlier cash. 2) The $12 m fifth tranche dwarfs initial commitments, concentrating risk late in the cycle when sunk costs are highest. 3) Project-specific permits, power supply, environmental approvals and hyperscale tenant LOIs are contingency triggers outside management control. 4) No disclosure on project valuations, expected returns, or financing plans beyond JV equity, leaving investors blind to risk-adjusted ROI. Rating -1 (negative) due to asymmetrical downside and limited disclosed safeguards.

Cierre inicial: Jet.AI aport贸 300,000 d贸lares en efectivo a cambio de una participaci贸n accionaria del 0.5% en Convergence Compute. La transacci贸n se cerr贸 el 2 de julio de 2025.

Marco de financiamiento futuro:

Compromiso total potencial en efectivo por parte de Jet.AI: hasta 20 millones de d贸lares distribuidos en cinco tramos vinculados a hitos espec铆ficos de desarrollo.
Calendario de hitos: 1.7 millones (segundo cierre), 2.0 millones (tercero), 4.0 millones (cuarto) y 12.0 millones (quinto).
Econom铆a accionaria: para el segundo y tercer cierre, Jet.AI y Consensus Core recibir谩n cada uno el 17.5% de propiedad en las subsidiarias de los proyectos de centros de datos relacionados. La participaci贸n de Jet.AI en Convergence Compute puede aumentar hasta un 2.5% si se financian todos los tramos; adem谩s, recibe un 0.5% adicional en la LLC matriz en cada cierre.
Opcionalidad: Jet.AI no est谩 obligada a completar el cuarto y quinto cierre y puede acelerar las contribuciones (m铆nimo 2 millones) a su discreci贸n.

頄ロ泟鞛愱笀臁半嫭頂勲爤鞛勳泴韥�:

Jet.AI鞚� 齑� 鞛犾灛鞝� 順勱笀於滌瀽鞎�: 雼れ劘彀鞚� 攵勴暊雮╇秬搿� 斓滊寑 2,000毵� 雼煬, 臧� 攵勴暊鞚€ 韸轨爼臧滊皽毵堨澕鞀ろ啢鞐� 鞐瓣硠霅�.
毵堨澕鞀ろ啢鞚检爼: 170毵� 雼煬(霊� 氩堨Ц 韥措歆�), 200毵� 雼煬(靹� 氩堨Ц), 400毵� 雼煬(雱� 氩堨Ц), 1,200毵� 雼煬(雼れ劘氩堨Ц).
歆€攵� 甑“: 霊� 氩堨Ц鞕€ 靹� 氩堨Ц 韥措歆� 鞁� Jet.AI鞕€ Consensus Core電� 臧侁皝甏€霠� 雿办澊韯� 靹柬劙頂勲鞝濏姼鞛愴殞靷� 歆€攵� 17.5%毳� 旆摑頃╇媹雼�. Jet.AI鞚� Convergence Compute 歆€攵勳潃氇摖攵勴暊雮╇秬臧€ 鞕勲霅橂┐ 斓滊寑 2.5%旯岇 歃濌皜頃� 靾� 鞛堨溂氅�, 臧� 韥措歆曤雼� 氇殞靷� LLC 歆€攵� 0.5%毳� 於旉皜搿� 氚涭姷雼堧嫟.
鞓奠厴: Jet.AI電� 雱� 氩堨Ц鞕€ 雼れ劘氩堨Ц 韥措歆曥潉鞕勲頃� 鞚橂臧€ 鞐嗢溂氅�, 斓滌唽 200毵� 雼煬鞚挫儊鞚� 鞛愳湢搿矊鞎炿嫻瓴� 於滌瀽頃� 靾� 鞛堨姷雼堧嫟.

Cl么ture initiale : Jet.AI a apport茅 300 000 $ en num茅raire pour une participation de 0,5 % dans Convergence Compute. La transaction s鈥檈st conclue le 2 juillet 2025.

Cadre de financement futur :

Engagement total potentiel en num茅raire de Jet.AI : jusqu鈥櫭� 20 millions de dollars r茅partis en cinq tranches li茅es 脿 des jalons de d茅veloppement sp茅cifiques.
Calendrier des jalons : 1,7 M$ (deuxi猫me cl么ture), 2,0 M$ (troisi猫me), 4,0 M$ (quatri猫me) et 12,0 M$ (cinqui猫me).
脡conomie de l鈥櫭﹒uit茅 : pour les deuxi猫me et troisi猫me cl么tures, Jet.AI et Consensus Core recevront chacun 17,5 % de propri茅t茅 dans les filiales des projets de centres de donn茅es concern茅s. La participation de Jet.AI dans Convergence Compute peut atteindre 2,5 % si toutes les tranches sont financ茅es ; elle re莽oit 茅galement 0,5 % suppl茅mentaires dans la soci茅t茅 m猫re LLC 脿 chaque cl么ture.
Optionnalit茅 : Jet.AI n鈥檈st pas oblig茅e de finaliser les quatri猫me et cinqui猫me cl么tures et peut acc茅l茅rer ses contributions (minimum 2 M$) 脿 sa discr茅tion.

07/02/2025 - 05:28 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 2, 2025

Forge Global Holdings, Inc.

(Exact name of registrant as specified in its charter)


Delaware	001-39794	99-4383083
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)


4 Embarcadero Center Floor 15 San Francisco, California (Address of principal executive offices)			94111 (Zip Code)

(415) 881-1612

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading
Symbol(s)

Name of each exchange on
which registered

Common Stock, $0.0001 par value per share

FRGE

NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 1.01 Entry into a Material Definitive Agreement.

On July 1, 2025, Forge Global Holdings, Inc., a Delaware corporation (the “Company”), Accuidity, LLC, a Delaware limited liability company ( “Accuidity”), Margo Merger Sub I, LLC, a Delaware limited liability company and a wholly owned indirect subsidiary of the Company (“Merger Sub I”) and Margo Merger Sub II, LLC, a Delaware limited liability company and a wholly owned indirect subsidiary of the Company (“Merger Sub II”) completed the transactions contemplated by that certain Agreement and Plan of Merger, dated as of July 1, 2025 (the “Merger Agreement”), by and among the Company, Accuidity, Merger Sub I, Merger Sub II and Kostka LLC, a New York limited liability company, solely in its capacity as representative of the securityholders of Accuidity for certain purposes described in the Merger Agreement (the “Securityholder Representative”). Pursuant to the Merger Agreement, (i) Merger Sub I merged with and into Accuidity, with Accuidity surviving the merger as a wholly owned indirect subsidiary of the Company (the “Surviving Company”, and such merger, the “First Merger”) and (ii) the Surviving Company merged with and into Merger Sub II, with Merger Sub II surviving the merger as a limited liability company and indirect wholly owned subsidiary of Company (the “Surviving Entity” and such merger, the “Second Merger”, and collectively with the First Merger, the “Acquisition”). Each capitalized term used herein but not otherwise defined has the meaning given to it in the Merger Agreement.

The Merger Agreement provides for consideration for the Acquisition of $10.0 million in cash (subject to customary adjustments) (the “Adjusted Cash Consideration”) and 1,150,000 shares of Company Common Stock (the “Closing Stock Consideration”) issued in a private placement transaction (a portion of which are subject to forfeiture and transfer restrictions). In addition, the Company is obligated to issue post-closing earn-out consideration of up to a maximum of 1,000,000 additional shares of Company Common Stock issuable upon the achievement of certain performance-related milestones through the end of 2027 (the “Earnout Stock Consideration”).

The Board of Directors of the Company (the “Board”) unanimously approved the Merger Agreement and the transactions contemplated by the Merger Agreement, including the Acquisition and the issuance of Company Common Stock in connection with the Acquisition. The approval of the stockholders of the Company will not be required in order to complete the transactions contemplated by the Merger Agreement.

The Merger Agreement and the foregoing description thereof have been included to provide investors and stockholders with information regarding the terms of the Merger Agreement. They are not intended to provide any other factual information about the Company, Merger Subs or Accuidity. The representations, warranties and covenants contained in the Merger Agreement were made only as of specified dates for the purposes of such agreement, were solely for the benefit of the parties to such agreement and may be subject to qualifications and limitations agreed upon by such parties. In particular, in reviewing the representations, warranties and covenants contained in the Merger Agreement and discussed in the foregoing description, it is important to bear in mind that such representations, warranties and covenants were negotiated with the principal purpose of allocating risk between the parties, rather than establishing matters as facts. Such representations, warranties and covenants may also be subject to a contractual standard of materiality different from those generally applicable to stockholders and reports and documents filed with the Securities and Exchange Commission (the “SEC”), and are also qualified in important part by a confidential disclosure schedule delivered by Accuidity to the Company and by a confidential disclosure schedule delivered by the Company to Accuidity, each in connection with the Merger Agreement. Investors and stockholders should not rely on such representations, warranties and covenants as characterizations of the actual state of facts or circumstances described therein. Information concerning the subject matter of such representations, warranties and covenants may change after the date of the Merger Agreement, which subsequent information may or may not be fully reflected in the parties’ public disclosures.

The foregoing description of the Merger Agreement is not complete and is qualified in its entirety by reference to the full text of the Merger Agreement, which will be filed as an exhibit with the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

Item 2.01 Completion of Acquisition or Disposition of Assets.

The information set forth in Item 1.01 of this Current Report on Form 8-K (this “Current Report”) is incorporated herein by reference.

On July 1, 2025, the Company closed the Acquisition contemplated by the Merger Agreement. Upon the terms and subject to the conditions set forth in the Merger Agreement, at the First Effective Time, each Class A Unit or Company Profits Interest Unit issued and outstanding immediately prior to the Effective Time was cancelled and extinguished and, other than the Cancelled Units, automatically converted into the right of the Company Securityholder holding such Class A Unit or Company Profits Interest Unit to receive (i) a specified portion of the Adjusted Cash Consideration as set forth on the Closing Statement (as defined in the Merger Agreement), (ii) a specified portion of the Closing Stock Consideration as set forth on the Closing Statement (as defined in the Merger Agreement) (or to the extent such Company Securityholder is an Unaccredited Investor, a cash payment in lieu thereof), (iii) such Company Securityholder’s Pro Rata Share of the

portion of the Adjustment Holdback Amount, if any, (iv) such Company Securityholder’s Pro Rata Share of the portion of the Indemnity Escrow Amount, if any, (v) such Company Securityholder’s Expense Fund Sharing Percentage of the Expense Fund, if any, and (vi) such Company Securityholder’s Pro Rata Share of the Earnout Stock Consideration (or to the extent such Company Securityholder is an Unaccredited Investor, a cash payment in lieu thereof), if any.

At the Closing of the Acquisition, the Company paid approximately $9.8 million in Adjusted Cash Consideration, (which is subject to certain post-closing adjustments and inclusive of escrow and holdback amounts) and delivered 1,150,000 shares of Company Common Stock as Closing Stock Consideration.

As required by Item 9.01 of Form 8-K, no later than 71 days after the date on which this Current Report is required to be filed with the SEC, the Company will file with the SEC an amendment to this Current Report that includes the financial statements of Accuidity and pro forma financial information required pursuant to such item, unless relief to file such financial information is obtained prior thereto from the SEC pursuant to Rule 3-13 of Regulation S-X.

Item 3.02 Unregistered Sales of Equity Securities.

The information set forth above under Items 1.01 and 2.01 in this Current Report are incorporated herein by reference. The Company issued the Closing Stock Consideration (and intends to issue the Earnout Stock Consideration) in reliance on the exemption from registration in Section 4(a)(2) of the Securities Act and Regulation D thereunder.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously reported by Current Report on Form 8-K filed by the Company with the SEC on February 14, 2025, on February 10, 2025 the Board adopted the Forge Global Holdings, Inc. 2025 Inducement Plan (the “Plan”), pursuant to which the Company reserved 100,000 shares of its common stock (after giving effect to the adjustment for the Company’s 1-for-15 reverse stock split effected on April 14, 2025) for issuance under the Plan solely to individuals who were not previously employees of the Company, or who are returning to employment following a bona fide period of non-employment with the Company, as an inducement material to such persons entering into employment with the Company, in accordance with NYSE Listed Company Manual Rule 303A.08. The Plan was approved by the Board without stockholder approval pursuant to NYSE Listed Company Manual Rule 303A.08.

On July 1, 2025, the Board adopted the Amended and Restated Forge Global Holdings, Inc. 2025 Inducement Plan (the “Amended Plan”), pursuant to which the Company has reserved 183,330 shares of its common stock for issuance under the Amended Plan, which represents an increase of 83,330 additional shares of common stock reserved under the Amended Plan. As of the date of the Amended Plan, no awards had been issued under the Plan. The terms of the Amended Plan are substantially the same as the Plan and awards will be made solely to individuals who were not previously employees of the Company, or who are returning to employment following a bona fide period of non-employment with the Company, as an inducement material to such persons entering into employment with the Company, in accordance with NYSE Listed Company Manual Rule 303A.08. The Amended Plan was approved by the Board without stockholder approval pursuant to NYSE Listed Company Manual Rule 303A.08.

The foregoing description of the Amended Plan is not complete and is qualified in its entirety by reference to the full text of the Amended Plan, which will be filed as an exhibit with the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

Item 7.01 Regulation FD.

On July 2, 2025, the Company issued a press release announcing the Acquisition. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference.

The information in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits


Exhibit Number			Description

99.1			Press Release, dated July 2, 2025.
104			Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURE

Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	Forge Global Holdings, Inc.

Date: July 2, 2025	By:	/s/ Kelly Rodriques
	Name:	Kelly Rodriques
	Title:	Chief Executive Officer

Source:

FAQ

What did Jet.AI (JTAIZ) disclose in the 8-K filed on July 2 2025?

The company announced a joint venture with Consensus Core to build data centers and detailed a Contribution Agreement with potential cash commitments up to $20 million.

How much has Jet.AI invested so far in the Convergence Compute joint venture?

At the first closing, Jet.AI contributed $300,000 for a 0.5% equity stake.

What are the future cash obligations for Jet.AI under the JV Agreement?

Jet.AI may invest an additional $19.7 million across four optional tranches tied to specific development milestones.

What ownership will Jet.AI receive if all milestones are met?

It could hold up to 2.5% of Convergence Compute and 17.5% interests in each Midwest and Maritime data-center subsidiary.

Can Jet.AI opt out of later funding rounds?

Yes, Jet.AI can decline the fourth and fifth closings, but doing so triggers an automatic forfeiture of future funding rights and reduces its project equity after 60 business days.

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[8-K] Forge Global Holdings, Inc. Reports Material Event

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What did Jet.AI (JTAIZ) disclose in the 8-K filed on July 2 2025?

How much has Jet.AI invested so far in the Convergence Compute joint venture?

What are the future cash obligations for Jet.AI under the JV Agreement?

What ownership will Jet.AI receive if all milestones are met?

Can Jet.AI opt out of later funding rounds?

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[8-K] Forge Global Holdings, Inc. Reports Material Event

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FAQ

What did Jet.AI (JTAIZ) disclose in the 8-K filed on July 2 2025?

How much has Jet.AI invested so far in the Convergence Compute joint venture?

What are the future cash obligations for Jet.AI under the JV Agreement?

What ownership will Jet.AI receive if all milestones are met?

Can Jet.AI opt out of later funding rounds?

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