Markforged to Merge, Providing Capital for Growth and Product Innovation

February 25, 2021


Markforged announced it has entered into a definitive agreement to merge with one, a special-purpose acquisition company sponsored by A-star and founded and led by technology-industry veteran Kevin Hartz. Upon completion of the transaction, expected this summer, the combined company will retain the Markforged name and be listed on the New York Stock Exchange under the ticker symbol MKFG.The combined company reportedly will have an estimated post-transaction equity value of approximately $2.1 billion at closing, with the transaction providing $425 million in gross proceeds.

Markforged, founded in 2013, provides an intuitive additive manufacturing platform, using artificial intelligence, that combines 3D printers with industrial-grade materials and cloud-based machine-learning software, as described by company officials.

“This transaction will enable us to build on our incredible momentum and provide capital and flexibility to grow our brand, accelerate product innovation and drive expanded adoption among customers across key verticals,” says Shai Terem, Markforged president and CEO. “We’re focused on making manufacturing even better by capitalizing on the huge opportunity ahead, and we are making this important leap through our new long-term partnership with Kevin Hartz and the entire team at one.”

Following the transaction’s completion, Terem will continue to lead Markforged as president and CEO, with Hartz joining the company’s board.

“When launching one, our priority was to partner with a company with exceptional founders, visionaries and operators taking a differentiated approach in large and growing markets―Markforged ticked all of those boxes and more,” says Hartz. “We’re thrilled to be working closely with the entire Markforged team, comprised of highly engaged founders, visionary leaders and world-class engineers, uniquely positioned to lead a revolution in modern manufacturing.”

Industry-Related Terms: Additive manufacturing
View Glossary of 3D Metal Printing Terms

 

See also: Markforged

Technologies: Other

Comments

Must be logged in to post a comment.
There are no comments posted.

Subscribe to the Newsletter

Start receiving newsletters.