Company: VLDXW
Filing Date: 2025-06-05
Form Type: PRER14A
Source: 0000950170-25-082330
Chunk: 10

Company: Velo3D, Inc.
Filing Date: 2025-06-05
Form: PRER14A
Chunk 10
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 common stock following the Reverse Stock Split may be required to pay higher transaction costs if they sell their common stock.

The Reverse Stock Split May Lead to a Decrease in our Overall Market Capitalization.

The Reverse Stock Split may be viewed negatively by the market and, consequently, could lead to a decrease in our overall market capitalization. If the per share market price of our common stock does not increase in proportion to the Reverse Stock Split ratio, or following such increase does not maintain or exceed such price, then the value of the Company,as measured by our market capitalization, will be reduced. Additionally, any reduction in our market capitalization may be magnified as a result of the smaller number of total shares of common stock outstanding following the Reverse Stock Split.

Potential Consequences if the Reverse Stock Split Proposal is Not Approved

If the Reverse Stock Split Proposal is not approved by our stockholders, our Board will not have the authority to effect the Reverse Stock Split to, among other things, increase the per share market price of our common stock to meet the initial listing requirements for the potential listing of our common stock on a national securities exchange. In addition, if the number of authorized and unissued shares of our common stock available for future issuance is not effectively increased as a result of the Reverse Stock Split, we will have less unissued shares available to satisfy our existing

contractual obligations, to raise the additional financing necessary to operate our business and satisfy our obligations and otherwise to pursue our continued growth and development.

Determination of the Reverse Stock Split Ratio

Our Board believes that stockholder approval of a range of potential Reverse Stock Split ratios is in our best interests and those of our stockholders because it is not possible to predict market conditions at the time the Reverse Stock Split would be implemented. We believe that a range of Reverse Stock Split ratios provides us with the most flexibility to achieve the desired results of the Reverse Stock Split. The Reverse Stock Split ratio to be selected by our Board will be anywhere from one-for-five (1:5) to one-for-fifty (1:50).

The selection of the specific Reverse Stock Split ratio will be based on several factors, including, among other things:

our ability to meet the initial listing requirements for a national securities exchange;

the per share price of our common stock immediately prior to the Reverse Stock Split;

the expected stability of the per share price of our common stock following the Reverse Stock Split;

the likelihood that the Reverse Stock Split will result in increased marketability and liquidity of our common stock;

prevailing market conditions