Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 204

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 204
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1, 2024, the Company entered into a second note amendment (the “Second Note Amendment”) to its Secured Notes with High Trail Investments ON LLC and HB SPV I Master Sub LLC, (“the Note Holders”). Pursuant to the Second Note Amendment, the Company agreed to make and made a cash payment of $ 5.0million on April 1, 2024, to redeem approximately $ 4.2million of aggregate principal amount of the Secured Notes, together with accrued and unpaid interest, and a cash payment of $ 5.5million on April 15, 2024, to repay approximately $ 4.6million of principal of the Secured Notes, together with accrued and unpaid interest. In connection with the Second Note Amendment, the Company issued to the Note Holders warrants to purchase 41,808shares of the Company’s common stock that became exercisable 45 days after the original issuance date at an exercise price of $ 239.22per share. The Note Holders may exercise the Warrants by paying the exercise in cash or by reducing the outstanding principal amount under the Secured Notes by an amount equal to the quotient of (A) the amount of the exercise price divided by (B) 1.20.

On April 10, 2024, the Company sold (such sale and issuance, the “BEPO Offering”) an aggregate of: (i) 65,307shares of common stock and (ii) immediately exercisable warrants to purchase up to 65,307shares of common stock at $ 183.75per share. The offering price per share of common stock and accompanying warrant was $ 183.75and resulted in gross proceeds to the Company of approximately $ 12million. The Company used the net proceeds from the BEPO Offering primarily for funding working capital and capital expenditures and other general corporate purposes, including repayment of portions of the Company’s Secured Notes.

On July 1, 2024, we entered into a third note amendment to the Secured Notes with the Note Holders (the “Third Note Amendment”). Pursuant to the Third Note Amendment, the Company and the Note Holders agreed to defer the July 1, 2024 partial redemption payment of $ 10.5million (the “July Redemption Payment”) over a period of ten equal monthly payments commencing August 1, 2024. During August and September 2024, we received extensions from the Note Holders for the July Redemption Payment