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.
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.