Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 289

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 289
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 |     | As of         
 June 30, 2025 |    |   |     | As of             
 December 31, 2024 |    |   |
|:------------------------|:----|:--------------|:---|:--|:----|:------------------|:---|:--|
| Current stock price     |     | $             | —  |   |     | $                 | —  |   |
| Expected volatility     |     |               | —  | % |     |                   | —  | % |
| Risk-free interest rate |     |               | —  | % |     |                   | —  | % |
| Dividend rate           |     |               | —  | % |     |                   | —  | % |
| Expected Term (years)   |     |               | 0— |   |     |                   | 0— |   |

| F-70 |

Expected volatility: The volatility is determined iteratively, such that the concluded value of the Private Placement Warrants are equal to the traded price.

Risk-free interest rate: The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for zero-coupon U.S. Treasury notes with maturities corresponding to the expected term of the common stock warrants.

Expected dividend yield: The expected dividend rate is zero as the Company currently has no history or expectation of declaring dividends on its common stock.

Expected term: The expected term represents the period that the warrants are expected to be outstanding and is determined using the simplified method, which deems the term to be the average of the time to vesting and the contractual life of the common stock warrants.

2022 Private Warrants, RDO Warrants, 2023 Placement Agent Warrants - Fair Value Assumptions

The fair value assumptions used in the Black-Scholes simulation model for the recurring valuation of the 2022 Private Warrants, the RDO Warrants, and the 2023 Placement Agent Warrants liabilities were as follows:

|                         |     |   |         As of 
 June 30, 2025 |   |     |   |             As of 
 December 31, 2024 |   |
|:------------------------|:----|:--|--------------:|:--|:----|:--|------------------:|:--|
| Current stock price     |     | $ |          7.20 |   |     | $