Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 65

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 65
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 net tangible book value was $21.5 million, or $1.53 per share of common stock, based on 14,067,416 shares of common
stock outstanding as of June 30, 2025.

Dilution in net tangible book value per share represents the difference between the amount per share paid by purchasers in this offering and the as adjusted net tangible book value per share of our common stock immediately after this offering. After giving effect to the sale of 2,777,777 shares of common stock at an assumed public offering price per share of common stock of $5.40, which is equal to the last reported sale price of our common stock on the OTCQX on August 5, 2025, after deducting the estimated underwriting discounts and estimated offering expenses payable by us, our as adjusted net tangible book value as of June 30, 2025 would have been approximately $34.7 million, or approximately $2.06 per share. This represents an immediate increase in net tangible book value to existing shareholders of $0.53 per share and an immediate dilution in as adjusted net tangible book value of $3.34 per share of our common stock to the investors purchasing securities in this offering.

The following table illustrates this per share dilution to the new investors purchasing shares of common stock in this offering:

| Public                                                          
 offering price per share of common stock                        |     |   |      |     | $ | 5.40 |
| Historical                                                      
 net tangible book value (deficit) per share as of June 30, 2025 |     | $ | 1.53 |     |   |      |
| Increase in net tangible book value per share attributable      
 to investors purchasing in this offering                        |     | $ | 0.53 |     |   |      |
| As adjusted net tangible book value per share as of             
 June 30, 2025 after this offering                               |     |   |      |     | $ | 2.06 |
| Dilution                                                        
 per share to investors purchasing in this offering              |     |   |      |     | $ | 3.34 |

Each $1.00 increase or decrease in the assumed public offering price of $5.40 per share, the last reported sale price of our common stock on the OTCQX on August 5, 2025, would increase or decrease our as adjusted net tangible book value per share after this offering by $0.