Markforged Appoints Mark Schwartz as Chief Financial Officer
WATERTOWN, Mass.–(BUSINESS WIRE)–Markforged (the “Company”), creator of an integrated metal and carbon fiber additive manufacturing platform, The Digital Forge, today announced that Mark Schwartz has been appointed Chief Financial Officer, effective April 1, 2021. Schwartz brings extensive experience as a public company CFO, leading capital markets transactions and as part of management teams at high-growth hardware manufacturing and SaaS and AI companies.
Schwartz takes over from interim CFO Assaf Zipori, who will now lead the Company’s Corporate Development & Strategy. Markforged is in the process of completing a definitive agreement to merge with one (NYSE: AONE), a special purpose acquisition company, and will be listed on the New York Stock Exchange under the ticker symbol “MKFG” upon completion of the transaction.
“Mark Schwartz is a seasoned financial executive with deep, relevant experience and a track record of driving results and accelerating growth,” said Shai Terem, Markforged’s President and Chief Executive Officer. “He’s a strong addition to our leadership team, and his experience and track-record as a public company CFO will be invaluable as we prepare to become a public company. I look forward to working with him and am confident his leadership will play a crucial role in fulfilling our vision to reinvent manufacturing and execute for our customers.”
“Markforged’s combination of software, hardware, and materials make it uniquely positioned to capture growing market opportunities and empower manufacturers to create more resilient and agile supply chains,” said Schwartz. “This is a pivotal time in Markforged’s trajectory, and I am excited to work with the team to accelerate growth and execute on the Company’s strategic plan so that customers can build anything they imagine.”
Schwartz brings more than 20 years of finance experience to Markforged, including serving as a public company CFO. Schwartz is joining Markforged from his recent role as Chief Financial Officer of Trax, a leading provider of computer vision and artificial intelligence in the retail sector. Prior to that role, he served as CFO & EVP Strategy & Corporate Development at Fabrinet (NYSE: FN) a leading provider of precision optical and electromechanical engineering and manufacturing services. He has also been an advisor to and investor in SaaS and manufacturing companies across telecom, digital media, and healthcare. Previously, Schwartz was an attorney specializing in M&A transactions, private placements, and technology licensing.
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. In February 2021, Markforged announced it entered into a definitive agreement to merge with one (NYSE: AONE), a special purpose acquisition company founded and led by technology industry veteran Kevin Hartz. The transaction is expected to close in the summer of 2021, subject to regulatory and stockholder approvals, and other customary closing conditions. The combined company will retain the Markforged name and be listed on the NYSE under the ticker symbol “MKFG.” To learn more about Markforged, please visit https://markforged.com.
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/.
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of one, the combined company or Markforged, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.
Participants in the Solicitation
one and Markforged and their respective directors and executive officers may be considered participants in the solicitation of proxies with respect to the potential transaction described in this document under the rules of the SEC. Information about the directors and executive officers of one is set forth in one’s final prospectus filed with the SEC pursuant to Rule 424(b) of the Securities Act of 1933, as amended (the “Securities Act”), on August 19, 2020 and is available free of charge at the SEC’s web site at www.sec.gov or by directing a request to: one, 16 Funston Avenue, Suite A, The Presidio of San Francisco, San Francisco, California 94129, Attention: Secretary. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the one shareholders in connection with the potential transaction will be set forth in the registration statement containing the preliminary proxy statement/prospectus when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
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 we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Forward-looking statements in this press release include, but are not limited to, statements regarding the proposed business combination, including the timing and structure of the transaction, as well as statements about the expected growth of the additive manufacturing industry, the combined company’s competitive position in the industry, and the anticipated growth of the combined company. We 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 inability of the parties to consummate the business combination or the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination agreement; the outcome of any legal proceedings that may be instituted against the parties following the announcement of the business combination; the risk that the approval of the shareholders of one for the potential transaction is not obtained; failure to realize the anticipated benefits of the business combination, including as a result of a delay in consummating the potential transaction; 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; the amount of redemption requests made by one’s shareholders; the inability to obtain or maintain the listing of the combined company’s securities following the business combination; costs related to the business combination; and those factors discussed under the header “Risk Factors” in the registration statement on Form S-4 to be filed by one with the SEC and those included under the header “Risk Factors” in the final prospectus of one related to its initial public offering. 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 we will achieve our objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have 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 our views as of any date subsequent to the date of this press release.
Jared Levy / Danya Al-Qattan
Sard Verbinnen & Co