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Forge Global Holdings Inc.
10/21/2025 | Press release | Distributed by Public on 10/21/2025 04:02
Material Agreement, Financial Obligation (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement
As previously disclosed by Forge Global Holdings, Inc. (the "Company") in the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on August 28, 2023, Forge Global, Inc., a wholly-owned subsidiary of the Company, entered into that certain sublease agreement for an office lease with Jones Lang LaSalle Americas, Inc., dated August 22, 2023 (the "Sublease"), to lease approximately 21,795 rentable square feet (the "Premises") of an office building located at Four Embarcadero Center, San Francisco, California (the "Building"). In accordance with the terms of the Sublease, the term of the Sublease was extended and is set to expire on January 31, 2026.
On October 14, 2025, Forge Global, Inc. entered into a lease agreement (the "Lease") with Four Embarcadero Center Venture, an affiliate of Boston Properties Limited Partnership, (the "Landlord") to lease the Premises. Following the expiration of the Sublease and pursuant to the Lease, the Company will continue to use the Premises as its headquarters. The Lease provides for a term of five (5) years and four (4) months, commencing on February 1, 2026 and expiring on May 31, 2031 (the "Term"), unless the Lease is terminated earlier pursuant to its terms.
The Lease provides for an initial annual base rent of approximately $1,983,000 (the "Base Rent"). Base Rent under the Lease is abated for the first four (4) months of the Term and thereafter increases on a scheduled basis through the end of the Term, reflecting an annual increase of 3%. In addition to the Base Rent, the Company will also be responsible for its proportionate share of the Building's operating expenses, including property taxes, as additional rent. In connection with the Lease, the Company will deliver to the Landlord a letter of credit in the amount of approximately $661,000 as a security deposit.
The foregoing description of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which the Company expects to file as an exhibit to its Quarterly Report on Form 10-Q for the quarter ending September 30, 2025.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 of this Current Report on Form 8-K with respect to the Lease is incorporated by reference into Item 2.03.
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