Linqto Selects Trustee and Manager of the Liquidating Trust and Closed-End Fund

SAN JOSE, Calif. & HOUSTON--(BUSINESS WIRE)--Linqto, Inc. today announced that it has filed a Plan Supplement for the Joint Chapter 11 Plan of Linqto Texas LLC and its affiliated debtors, where among other things, the Company identified the managers selected for the two options for customer recoveries described in the Plan of Reorganization. These selections were made by the Unsecured Creditors Committee (UCC) and Linqto’s Chief Restructuring Officer (CRO), Jeffrey Stein. On July 8, 2025, Linqto filed for voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas.

“This is an important and extremely positive moment for the more than 13,000 customers of Linqto who are seeking the quickest exit from bankruptcy with the greatest recovery,” said Dan Siciliano, Linqto Chief Executive Officer.

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VanEck was selected to be the manager of the Closed-End Fund and Forge Global, Inc. was chosen as the Liquidating Trustee of the Liquidating Trust. Voting on the Plan and the two options is open through January 26, 2026, with a plan confirmation hearing set for February 2, 2026.

“This is an important and extremely positive moment for the more than 13,000 customers of Linqto who are seeking the quickest exit from bankruptcy with the greatest recovery,” said Dan Siciliano, Linqto Chief Executive Officer. “We were forced to file for Chapter 11 due to the regulatory violations and fraud committed by prior management that had caused irreparable harm to Linqto’s operations. Our goal remains to provide a clear and certain path to recovery with options for our customers, many of whom have different financial goals, interests, and objectives. We also sought to preserve the original benefit of the bargain and intent of Linqto – to allow individuals to participate in some of the world’s most exciting and innovative privately held companies. By creating the Liquidating Trust and Closed-End Fund options - and by providing the opportunity to allocate a percentage of assets between them - we are giving customers the flexibility to choose the approach that best aligns with their short and long-term needs.”

“We are pleased that the UCC and our CRO have landed on the choice of Forge Global and VanEck to serve in their appointed capacities. Both bring significant experience, a depth of talent and the ability to manage complex engagements in this high-stakes environment. We look forward to working with them as we move through confirmation and exit from Chapter 11. With this information in hand, we think customers have the information they need to vote for the plan and to choose the option that works best for them.”

Linqto customers can choose to allocate their claim to the Closed-End Fund, the Liquidating Trust or a combination of both. The Closed-End Fund will be listed on a national exchange, thereby giving customers full liquidity to buy and sell positions in the Closed-End Fund. The Liquidating Trust creates a direct link to customer securities and will provide Linqto customers with occasional opportunities for liquidity. The Liquidating Trustee will also coordinate distributions and execute settlements in accordance with the trust agreement.

“We are pleased to be selected to manage the closed end fund on behalf of Linqto’s creditors,” said Jan van Eck, Chief Executive Officer of VanEck. “We look forward to applying our experience to responsibly manage these assets, with a focus on maximizing value and liquidity.”

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.

About VanEck

VanEck is a global investment manager founded in 1955, managing approximately $181.4 billion in assets across mutual funds, ETFs and institutional portfolios as of December 31, 2025. VanEck has offered private market strategies for 30 years, including hedge fund strategies, venture capital, and other alternative investment structures, and is a significant co-investor across its private strategies. The firm's recently launched private funds have focused on blockchain, stablecoins, AI, and financial innovation. For more information, visit www.vaneck.com.

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© Van Eck Associates Corporation