---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-268187"
form_type: "8-K"
ticker: "SCHW"
cik: "0000316709"
company_name: "SCHWAB CHARLES CORP"
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-17T00:04:17.775480+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.82
calibrated_materiality_score: 0.82
confidence: "high"
source: SEC EDGAR
---

# Schwab to acquire Forge Global for ~$660M, expanding private market access

## Summary
- Schwab acquires all Forge common shares at $45 cash per share, total value ~$660M.
- Transaction approved by both boards; expected close H1 2026, subject to stockholder and regulatory approvals.
- Forge's platform has facilitated $17B+ in private share trading; Schwab has 46M accounts and $11.6T in client assets.
- Forge's largest stockholders Motive Capital and Deutsche Börse have committed to support the deal.
- Acquisition aims to provide retail and advisor clients direct access to private securities, building on recent platform launches.

## SEC filing metadata
- accession: 0001193125-25-268187
- form_type: 8-K
- ticker: SCHW
- cik: 0000316709
- company_name: SCHWAB CHARLES CORP
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.82
- calibrated_materiality_score: 0.82
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/316709/000119312525268187/0001193125-25-268187-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/316709/000119312525268187/d28688d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-268187
- JSON: https://secwatch.observer/filing/0001193125-25-268187.json
- Plain text: https://secwatch.observer/filing/0001193125-25-268187.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.