Company: VLDXW
Filing Date: 2025-06-25
Form Type: DRS
Source: 0001641172-25-016496
Chunk: 68

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 68
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 financial condition, future prospects, contractual restrictions, restrictions imposed by applicable law and other factors our board of directors deems relevant.

| 42 |

<div align='center'>Confidential Treatment Requested by Velo3D, Inc.

Pursuant to 17 CFR 200.83

CAPITALIZATION</div>

The following table sets forth our capitalization as of March 31, 2025 as follows:

| ● | on                   
 an actual basis; and |

| ● | on                                                                                             
 an as adjusted basis to give effect to the issuance and sale by us of up to                    
 shares of common stock at an assumed public offering price of $                                
 per share, which is equal to the last reported sale price of our common stock on the OTCQX     
 on                   ,                                                                         
 2025, and after deducting underwriting discounts, fees and estimated offering expenses payable 
 by us.                                                                                         |

You should read this table together with “ Management’s Discussion and Analysis of Financial Condition and Results of Operations,” as well as our financial statements and related notes and the other financial information appearing elsewhere in this prospectus. The information presented in the capitalization table has been adjusted to reflect the effect of this current offering.

|                                                                                                                            |     | As                
 of March 31, 2025 |          |   |     |          |
|:---------------------------------------------------------------------------------------------------------------------------|:----|:------------------|---------:|:--|:----|:---------|
| (in                                                                                                                        
 thousands, except share and per share amounts)                                                                             |     | Actual            |          |   |     | As       
 adjusted |
| Cash                                                                                                                       
 and cash equivalents                                                                                                       |     | $                 |    3,870 |   |     | $        |
| Stockholders’ equity                                                                                                       |     |                   |          |   |     |          |
| Common stock, par value $0.0001 per share;                                                                                 
 500,000,000 shares authorized at March 31, 2025; 210,232,762 shares issued and outstanding, actual;                 shares 
 issued and outstanding, as adjusted                                                                                        |     | $                 |        4 |   |     |          |
| Additional paid-in capital                                                                                                 |     | $                 |  488,623 |   |     |          |
| Accumulated other comprehensive                                                                                            
 loss                                                                                                                       |     | $                 |        — |   |     |          |
| Accumulated deficit                                                                                                        |     |