Markforged Begins Trading on July 15 Following
Successful Closing of Merger with one SPAC
Markforged, Inc., creator of the integrated metal and carbon
fiber additive manufacturing platform, The Digital Forge, today
announced that it has completed its previously announced merger
with one (NYSE: AONE), a special purpose acquisition company
sponsored by A-star and founded and led by technology industry
veteran Kevin Hartz. The combined company, named Markforged Holding
Corporation, is expected to commence trading on the New York Stock
Exchange beginning on July 15, 2021 under the ticker symbol “MKFG”
for Markforged common stock and “MKFG.WS” for Markforged
warrants.
Markforged continued its commitment to delivering innovation in
the additive manufacturing space with a number of production and
pipeline milestones in 2021, including the introduction of its
newest printer, the FX20, the release of the Metal X Gen 2 and X7
Field Edition, as well as its Next Day Metal software update, which
unlocked increased speed and capacity across its global fleet, and
AI-powered Blacksmith software for the X7 platform. Markforged also
has brought on leading global partners such as Phillips Corporation
and expanded its relationship with Würth Additive Group, a Würth
Industry North America company. The company added to its Board of
Directors and began an expansion of its Boston-area headquarters to
support the growth of its team.
“Today is a proud moment for the entire Markforged team and a
significant milestone in our mission to reinvent manufacturing
today so our customers can build anything they imagine tomorrow,”
said Shai Terem, President and Chief Executive Officer of
Markforged. “As a publicly traded company, we will continue to
focus on executing on our ambitious product roadmap and further
accelerating innovation, expanding customer adoption, and
capitalizing on the strong secular trends in additive
manufacturing, allowing us to bring our platform to even more
manufacturing floors around the world for mission-critical use
cases. Looking ahead, we have some exciting products in our
pipeline as we move from accessible end-use parts to robust
production. I couldn’t be more excited about our talented team and
the opportunities in this next chapter.”
Kevin Hartz, Founder and CEO of one, said, “Being a publicly
traded company will enable Markforged to build new relationships as
a critical partner to even more leading global manufacturers,
leveraging its expanded platform and proceeds from the transaction
to accelerate its impact and growth. I am excited to join the Board
of Directors and to work alongside a group of talented and diverse
directors. I look forward to contributing to the team as Markforged
continues to scale and this nascent industry matures and transforms
modern manufacturing in the coming years.”
Transaction Details
In connection with the closing of the merger, Markforged has
received approximately $361 million of gross proceeds before
transaction expenses, including a $210 million PIPE from Baron
Capital Group, funds and accounts managed by BlackRock, Miller
Value Partners, Wasatch Global Investors, and Wellington
Management, as well as existing Markforged shareholders M12 –
Microsoft’s Venture Fund and Porsche Automobil Holding SE.
As part of the merger, the existing management team, led by
President and CEO Shai Terem, will continue to operate the
business. Kevin Hartz and Carol Meyers, venture partner at
Glasswing Ventures, LLC, will join Markforged’s Board of Directors.
Alan Masarek, most recently CEO of Vonage (Nasdaq: VG) will join
the Board as Chairman.
Additional information about the completed merger will be
provided in a Current Report on Form 8-K to be filed by Markforged
with the Securities and Exchange Commission and available at
sec.gov.
Advisors
Citigroup Global Markets Inc. served as lead financial advisor
and capital markets advisor to Markforged. William Blair and
Stifel, Nicolaus & Company, Incorporated also acted as
financial advisor and capital markets advisor to Markforged, and
Goodwin Procter LLP served as legal counsel.
Goldman Sachs & Co. LLC served as exclusive financial
advisor to one and Cadwalader, Wickersham & Taft LLP served as
legal counsel.
Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC
served as co-placement agents on the PIPE.
About Markforged
Markforged transforms manufacturing with 3D metal and continuous
carbon fiber printers capable of producing parts tough enough for
the factory floor. The Markforged Digital Forge brings the power
and speed of agile software development to industrial
manufacturing, combining hardware, software, and materials to
eliminate the barriers between design and functional part.
Engineers, designers, and manufacturing professionals all over the
world rely on Markforged metal and composite printers for tooling,
fixtures, functional prototyping, and high-value end-use
production. Founded in 2013 and based in Watertown, MA, Markforged
has more than 250 employees globally. Markforged has been
recognized by Forbes in the Next Billion-Dollar Startups list, and
listed as the #2 fastest-growing hardware company in the US in the
2019 Deloitte Fast 500. To learn more about Markforged, please
visit https://markforged.com.
About one
one is a special purpose acquisition company sponsored by A*
formed for the purpose of effecting a business combination with one
or more businesses in the innovation economy. one completed its
initial public offering in August 2020 raising $215 million in cash
proceeds. A* was founded and is led by technology industry veteran
Kevin Hartz. To learn more about one, please visit
https://www.a-star.co/.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are
based on beliefs and assumptions and on information currently
available. In some cases, you can identify forward-looking
statements by the following words: “may,” “will,” “could,” “would,”
“should,” “expect,” “intend,” “plan,” “anticipate,” “believe,”
“estimate,” “predict,” “project,” “potential,” “continue,”
“ongoing” or the negative of these terms or other comparable
terminology, although not all forward-looking statements contain
these words. These statements involve risks, uncertainties and
other factors that may cause actual results, levels of activity,
performance or achievements to be materially different from the
information expressed or implied by these forward-looking
statements. Although Markforged believes that it has a reasonable
basis for each forward-looking statement contained in this press
release, Markforged cautions you that these statements are based on
a combination of facts and factors currently known by it and its
projections of the future, about which it cannot be certain.
Forward-looking statements in this press release include, but are
not limited to, statements regarding the timing for commencement of
trading, the anticipated contribution of the members of
Markforged’s board of directors and leadership to Markforged’s
operations, progress and financial results, Markforged’s product
roadmap, pipeline and future innovation, the functionality and
applications of Markforged’s products, the expected growth of the
additive manufacturing industry, the expected growth of
Markforged’s revenue and customer base, the impact of Markforged’s
products on its financial condition and results of operation, and
the integration of Markforged’s products into the additive
manufacturing market. Markforged cannot assure you that the
forward-looking statements in this press release will prove to be
accurate. These forward looking statements are subject to a number
of risks and uncertainties, including, among others, general
economic, political and business conditions; the ability of
Markforged to maintain its listing on the New York Stock Exchange;
the effect of COVID-19 on Markforged’s business and financial
results; the outcome of any legal proceedings against Markforged;
failure to realize the anticipated benefits of the business
combination, including as a result of costs related thereto and
additional burdens of being a publicly traded company; the risk
that the business combination disrupts current plans and operations
as a result of the announcement and consummation of the business
combination; the ability of the combined company to grow and manage
growth profitably and retain its key employees; and those factors
discussed under the header “Risk Factors” in the Proxy Statement
and Prospectus filed pursuant to Rule 424B(3) with the SEC on June
24, 2021 and those included under the header “Risk Factors” in
one’s Annual Report on Form 10-K and other filings with the SEC.
Furthermore, if the forward-looking statements prove to be
inaccurate, the inaccuracy may be material. In light of the
significant uncertainties in these forward-looking statements, you
should not regard these statements as a representation or warranty
by us or any other person that Markforged will achieve its
objectives and plans in any specified time frame, or at all. The
forward-looking statements in this press release represent
Markforged’s views as of the date of this press release. Markforged
anticipates that subsequent events and developments will cause its
views to change. However, while Markforged may elect to update
these forward-looking statements at some point in the future,
Markforged has no current intention of doing so except to the
extent required by applicable law. You should, therefore, not rely
on these forward-looking statements as representing Markforged’s
views as of any date subsequent to the date of this press
release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210714005920/en/
Markforged Media
Paulina Bucko paulina.bucko@markforged.com
Investors investors@markforged.com
one Media
astar-SVC@sardverb.com
Investors investors@a-star.co
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