Company: VLDXW
Filing Date: 2025-08-18
Form Type: 8-K
Source: 0001641172-25-024603
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Company: Velo3D, Inc.
Filing Date: 2025-08-18
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Definitive Agreement.

Amendment
of January Senior Secured Convertible Secured Note

As
previously reported, on January 7, 2025, Velo3D, Inc. (the “ Company”) issued a Senior Secured Convertible Promissory
Note in the principal amount of $5,000,000 (the “ January Note”) to Thieneman Properties, LLC (the “ Holder”),
an Indiana limited liability company controlled by Kenneth Thieneman, a member of the board of directors of the Company. Prior
to the amendments described below, the January Note: (i) accrued interest at a rate of 60.0% per annum; (ii) was payable
in full on April 7, 2025 in the amount of $5,750,000 and if not paid on or prior to such date, would continue to accrue interest at the
same rate until paid; and (iii) was convertible upon the Company’s successful listing of its shares of common stock,
par value $0.00001 per share, on a national securities exchange (as defined in Rule 153(c) under the Securities Act of 1933, as amended
(the “ Securities Act”)) or upon and during the continuation of an Event of Default (as defined in the January Note),
into shares of common stock at a fixed conversion price of $23.40 per share (as adjusted for the reverse stock split effected by the
Company on July 28, 2025). On April 7, 2025, the Company made a payment of $750,000 to the Holder, covering the first three months
of interest on the January Note.

On
August 14, 2025, the Company and the Holder entered into an Amendment to Senior Secured Convertible Promissory Note (the “ January
Note Amendment”), which amended certain provisions of the January Note to, among other things: (i) extend the maturity
date under the January Note to February 14, 2027; (ii) reduce the interest rate under the January Note to 12% per annum; and (ii)
reduce the conversion price of the January Note to $16.38 per share.

Amendment
of February Senior Secured Convertible Secured Note

As
previously reported, on
February 10, 2025, the Company issued an additional Senior Secured Convertible Promissory Note in the aggregate