Linqto Receives Court Confirmation of First Modified Reorganization Plan With Kroll as Trustee for Liquidating Trust

Final Step Before Exiting Chapter 11 Bankruptcy Protection

SAN JOSE, Calif. & HOUSTON--(BUSINESS WIRE)--Linqto, Inc. today announced that the Company’s First Modified Plan of Reorganization (“the Plan”) was confirmed by the United States Bankruptcy Court for the Southern District of Texas. This confirmation is the final step required before the Company can exit Chapter 11 bankruptcy protection. The Company plans to exit bankruptcy as soon as practicable.

Under the Plan, Kroll will serve as Trustee for the Liquidating Trust, one of the two customer recovery options. Kroll replaces Forge Global, Inc., which Linqto is pursuing for damages following Forge’s abrupt termination of its contractual commitment to serve as Trustee of the Liquidating Trust without warning or explanation. Previously selected VanEck remains the manager for the forthcoming Closed End Fund, the other option for customer recovery under the Plan.

The Plan states that Kroll’s compensation and economic terms are the same as the Forge terms, which were approved at the original confirmation in February 2026. As a result, the Court agreed that no new disclosure statement, ballot or vote was required and the prior votes carried over. In addition, the Liquidating Trust and Closed End Fund elections, treatment of customer claims and the Wind Down Trust waterfall remain the same. A new component to the plan is the Deadman Switch, which states that if Kroll does not establish the Liquidating Trust or take possession of the Liquidating Trust assets by November 23, 2026, those assets move temporarily to the Wind Down Trust, held separately for the Liquidating Trust beneficiaries until the Wind Down Trust selects a replacement Liquidating Trustee.

“Today’s confirmation by the Court marks the final successful milestone in this 15-month bankruptcy,” stated Dan Siciliano, CEO of Linqto. “We petitioned the Court in July 2025 for voluntary Chapter 11 protection in the wake of the immense fraud that was perpetrated by prior management. Since then, our goals were clear: to exit from bankruptcy as quickly as possible with the greatest possible recovery for customers. As a result, we expect customers to recover approximately 90% - 92% of the value of their assets on a blended basis. By any measure - and particularly in a fraud case - this is an excellent result.”

About Linqto

Linqto is a global investing platform designed to give accredited investors indirect access to investments in private companies and unicorns. Linqto’s platform has historically provided customers with access to a range of pre-IPO companies. For more details, visit www.linqto.com.