Feb 24 (Reuters) – 3D printer maker Markforged said on Wednesday it agreed to go public through a merger with a blank-check firm backed by venture investor Kevin Hartz, in a deal valuing the equity of the combined company at $2.1 billion.
The deal with one, sponsored by ticketing site Eventbrite Inc founder Hartz, is expected to provide the merged entity with around $425 million in gross proceeds.
The proceeds include a $210 million private investment, anchored by Baron Capital Group, Porsche Automobil Holding SE , Microsoft Corp’s venture fund M12 and funds and accounts managed by BlackRock Inc.
Last year, Desktop Metal, another 3D printing technology provider, also chose to merge with a special purpose acquisition company (SPAC) to go public.It was valued at $2.5 billion in the deal.
Watertown, Massachusetts-based Markforged was founded in 2013 and manufactures The Digital Forge, an artificial intelligence-powered 3D printer that integrates metal and carbon fiber to make products.
One, a SPAC, raised $200 million in an initial public offering last year.
SPACs are shell companies that raise money in an IPO to pursue an acquisition at a later date.They serve as an alternative to a traditional IPO for jasa pembuatan software kasir companies looking to enter public markets.
Markforged will be listed on the New York Stock Exchange after the merger and will trade under the new ticker symbol «MKFG.»
Citigroup Global Markets Inc and Goldman Sachs & Co LLC are acting as financial advisors to Markforged and one, respectively.(Reporting by Sohini Podder in Bengaluru and Krystal Hu in New York; Editing by Aditya Soni)
