A leader in 3D printing for manufacturing is going public with a SPAC deal announced Wednesday. The SPAC Deal: Markforged is going public in a deal with One (NYSE: AONE) valuing the company at an enterprise value of $1.66 billion. The PIPE on the SPAC deal includes investments from existing Markforged investors Porsche Automobil and Microsoft Corporation (NASDAQ: MSFT). Shares of the new company are expected to trade as “MKFG” on the NYSE. Current One shareholders will own 10% of the company after the merger. About Markforged: Founded in 2013, Markforged is a leader in additive manufacturing. The company said it’s reinventing the manufacturing process used by customers. Target industries for the company include aerospace, military, defense, space exploration, healthcare, medical, automotive and industrial. Markforged replaces plastic, steel and aluminum end use parts with easy to print metals. The company operates with three business lines of software, printers and materials. Customers for Markforged include Bosch, Schneider Electric, Airbus, Lockheed Martin, General Electric, US Air Force, US Army, US Navy, NASA, Blue Origin, SpaceX, Medtronic, Gillette, Bayer, Regeneron, Porsche, Honda, Tesla, Toyota, General Motors and Ford Motor. Related Link: 10 Top SPAC Picks For Investors To Consider In 2021 Growth Plans: Markforged is competing in a $13 trillion manufacturing industry globally. The company has products in over 10,000 facilities in 70 countries with plans to grow into more locations. The additive manufacturing market is expected to grow from $2 billion in 2012 to $18 billion in 2021, according to the company’s presentation. Additive manufacturing could be worth $118 billion by 2029. Financials: Markforged had revenue of around $70 million in fiscal 2020. The company is projecting revenue to hit $88 million in fiscal 2021 and $122 million in fiscal 2022. Revenue is seen hitting a compounded annual growth rate of 68% from fiscal 2021 to fiscal 2025. Markforged competes with Desktop Metal (NYSE: DM), which also went public in a SPAC merger. Markforged states in its investor presentation that it has better gross margins than its competitor. In fiscal 2020, Desktop Metal had revenue of between $15 million and $20 million. Desktop Metal has a market cap of over $5 billion compared to a pro forma equity value of $2 billion for Markforged based on a share price of $10. Price Action: Shares of One closed up 20% to $13.66 on Wednesday. See more from BenzingaClick here for options trades from BenzingaJoby Aviation Lands SPAC Deal To Bring Urban Air Mobility Company PublicSecond Life? GameStop Spikes 103% As Reddit Stocks Surge Again© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.