Press Release February 24, 2021

Markforged, Leader In Additive Manufacturing, To Become Publicly-Listed Through $2.1 Billion Merger With One

The Technology team advised Markforged in its definitive agreement to merge 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 will have a post-transaction equity value of approximately $2.1 billion at closing with $425 million in net cash. Cash proceeds raised will consist of one’s $215 million of cash in trust (assuming no redemptions) and an additional $210 million fully committed common stock PIPE, including investments from Baron Capital Group, funds and accounts managed by BlackRock, Miller Value Partners, Wasatch Global Investors and Wellington Management, with additional commitments from M12 — Microsoft’s Venture Fund and Porsche Automobil Holding SE, existing Markforged shareholders. Upon completion of the transaction, the combined company will retain the Markforged name and will be listed on the New York Stock Exchange under the ticker symbol “MKFG.”

Markforged transforms manufacturing with 3D metal and continuous carbon fiber printers capable of producing parts tough enough for the factory floor. 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, the company has about 300 employees globally, with $137 million in both strategic and venture capital. Markforged was recently 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.

one is a special purpose acquisition company sponsored by A-star, 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 $200 million in cash proceeds.

The Goodwin team was led by Ken Gordon, Michael Minahan and Mike Patrone, and included Aaron Berman, Jason Goldfarb, Sean Toner, Michael Wang, Bethany Withers, Jacqueline Klosek, Steven Argentieri, Lauren Schwarzenholzer, Federica De Santis, Janet Andolina, Kyle Pine, Garrett Gaughan, Jacob Osborn, Ce Li, Nathan Brodeur, Jennifer Fay, Jennifer Luz, Caroline Galiatsos, Ortal Ben AharonSarah Bock, Jeremy Slotnick, Brittany McCants, Scott Zilora and Pamela Finan.

For additional details on the transaction, please read the press release.