AI and cloud-based additive manufacturing platform makes SPAC deal

March 05, 2021 // By Rich Pell
AI and cloud-based additive manufacturing platform makes SPAC deal
Additive manufacturing company Markforged has announced that it has entered into a definitive agreement to merge with 'one' (NYSE: AONE), a special purpose acquisition company (SPAC) sponsored by A-star (A*).

Founded in 2013, Markforged is the creator of an integrated metal and carbon fiber additive manufacturing platform, The Digital Forge - a cloud and ML-based 3D printing platform designed to interconnect all of the company's systems currently being used around the world. It is claimed to be the first such platform to use machine learning, a feature that enables the company's Eiger print preparation software to constantly learn from the 12,000 systems in its 73-country-wide global fleet.

As such, says the company, every print on a connected Markforged system should theoretically be more accurate than the last. The platform targets demanding applications across key verticals, including industrial automation, aerospace, military and defense, space exploration, healthcare and medical, and automotive.

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. A* was founded and is led by technology industry veteran and investor Kevin Hartz.

The combined company will have an estimated post-transaction equity value of approximately $2.1 billion at closing. The transaction will provide $425 million in gross proceeds to the Company, assuming no redemptions by one shareholders, including a $210 million private investment in public equity (PIPE) at $10.00 per share from investors including Baron Capital Group, funds and accounts managed by BlackRock, Miller Value Partners, Wasatch Global Investors and Wellington Management, as well as commitments from M12 – Microsoft’s Venture Fund and Porsche Automobil Holding SE, existing Markforged shareholders.

Net transaction proceeds, says the company, will support Markforged’s continued growth across key verticals and strengthen its competitive advantage with new products, proprietary materials and expanded customer use cases.

"Our mission and vision are to reinvent manufacturing by bringing the power and agility of connected software to the world of industrial manufacturing," says Shai Terem, President and CEO of Markforged. "We’ve been at the forefront of the additive manufacturing industry, and this

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