secwatch.observer — SEC 8-K summary
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Issuer:     FORGE INNOVATION DEVELOPMENT CORP. (FGNV)
CIK:        0001687919
Form:       8-K
Filed at:   2023-03-24T23:59:59+00:00
Accession:  0001493152-23-008857
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Forge Innovation acquires 51% of Legend LP (owns Mission Marketplace) via stock issuance
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- Issued 1,967,143 common shares at $0.70/sh ($1.377M value) for 77.3% of seller's 66% interest, gaining 51% control of Legend LP.
- Legend LP owns Mission Marketplace, a 48,722 sq ft grocery-anchored center on 4.51 acres in Jurupa Valley, CA.
- Related-party transaction: seller Legend Investment Management LLC is an affiliate of Forge; retains 15% of Legend LP.
- Legend LP net value ~$2.7M based on Feb 2023 appraisal, Feb 28 net book value, and new loan from third-party lender.
- Financial statements and pro forma to be filed within 71 days after this 8-K due date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1687919/000149315223008857/0001493152-23-008857-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1687919/000149315223008857/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-008857

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer