3D printer builder Markforged signs agreement to merge and go public, creating $2.1 billion company

Markforged Chairman Greg Mark (left) founded the company in 2013. Shai Terem was named president and CEO in October 2020.

Markforged, inventor of the integrated metal and carbon-fiber additive manufacturing platform The Digital Forge, has signed an agreement to merge with the special-purpose acquisition company one. Sponsored by A-star, one was founded and is led by technology industry veteran Kevin Hartz.

The combined company will retain the Markforged name and be listed on the New York Stock Exchange under the ticker symbol “MKFG.”

Analysts predict the combined company will have a post-transaction equity value of $2.1 billion. The deal will provide $425 million in gross proceeds to Markforged. Current Markforged shareholders are expected to hold approximately 78% of the issued and outstanding shares of common stock immediately following the closing. The transaction, which has been unanimously approved by the boards of directors of Markforged and one, is expected to close in mid-2021.

The president and CEO of Markforged, Shai Terem, said, “Our mission and vision are to reinvent manufacturing by bringing the power and agility of connected software to the world of industrial manufacturing. [The Markforged-one agreement] is a pivotal milestone as we progress towards making that vision a reality.”

Terem will continue as president and CEO of the company, and Hartz will join the company’s board.

Markforged was founded in 2013 and employs more than 250 people worldwide.