Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 172

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 172
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     |    | 5.09 |     |        | 5.48 |
| 9 months                           |     |                                   | 1.35 |     |    | 1.88 |     |    | 2.43 |     |    | 2.99 |     |    | 3.56 |     |    | 4.08 |     |    | 4.58 |     |    | 5.04 |     |        | 5.48 |
| 6 months                           |     |                                   | 0.98 |     |    | 1.49 |     |    | 2.06 |     |    | 2.67 |     |    | 3.29 |     |    | 3.89 |     |    | 4.44 |     |    | 4.97 |     |        | 5.48 |
| 3 months                           |     |                                   | 0.51 |     |    | 0.98 |     |    | 1.56 |     |    | 2.25 |     |    | 2.96 |     |    | 3.65 |     |    | 4.29 |     |    | 4.89 |     |        | 5.48 |
| 0 months                           |     |                                   |    - |     |    |    - |     |    | 0.63 |     |    | 1.73 |     |    | 2.69 |     |    | 3.50 |     |    | 4.22 |     |    | 4.85 |     |        | 5.48 |

| 108 |

The exact fair market value and redemption date may
not be set forth in the table above, in which case, if the fair market value is between two values in the table or the redemption date
is between two redemption dates in the table, the number of shares of common stock to be issued for each warrant exercised will be determined
by a straight-line interpolation between the number of shares set forth for the higher and lower fair market values and the earlier and
later redemption dates, as applicable, based on a 365- or 366- day year, as applicable. For example, if the volume weighted average price
of the shares of common stock as reported during the 10 trading days ending on the third trading day prior