Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 35

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 an exercise price of $199.35 per share and will expire on the one
year anniversary of the later of (i) the Initial Exercise Date and (ii) the date on which the Resale Registration Statement (as defined
in the Letter Agreement) is declared effective by the SEC. The Investors may exercise the 2024 Private 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. The 2024 Private Warrants may also be exercised on a cashless basis under certain circumstances.

In
connection with the Third Note Amendment, on July 1, 2024, the Company also entered into a letter agreement with the Investors pursuant
to which the Company issued to the Investors warrants (the “July 2024 Private Warrants”) to purchase up to an aggregate of
110,000 shares of Common Stock. The July 2024 Private Warrants became exercisable 45 days after the original issuance date, are exercisable
at an exercise price of $37.50 per share and will expire on the five year anniversary of the issuance date. The Investors may exercise
the 2024 Private 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. The July 2024 Private Warrants may also be
exercised on a cashless basis under certain circumstances.

On
August 12, 2024, the Company entered into a warrant inducement with certain warrant holders. Pursuant to the Inducement Agreement, the
holders of the Existing Warrants agreed to reduce the exercise price of their Existing Warrants totaling 49,524, from $296.70 per share
to $34.20 per share. Additionally, the Company agreed to issue registered warrants with an exercise price of $34.20 per share to purchase
99,048 shares of Common Stock (the “August Inducement Warrants”) and will expire on the five year anniversary of the issuance
date. The August Inducement Warrants may also be exercised on a cashless basis under certain circumstances.

Warrants
to purchase an equal number of shares of common stock of 36,892
and 366,946
were exercisable as of