Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 70

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 70
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,000 and if not paid on or prior to such
date, will continue to accrue interest at the same rate until paid. The outstanding principal amount of the February Note is convertible
into shares of the Company’s common stock upon the occurrence of the Company’s successful listing of shares of its common
stock on a national securities exchange or the occurrence and during the continuation of an event of default, into common stock at a
fixed conversion price of $15.00 per share.

2025 Reverse Stock Split

Effective July 28, 2025, we implemented a 1-for-15 reverse stock split of our issued and outstanding common stock. The reverse stock split was effected by the filing of a certificate of amendment (the “Amendment”) to our Certificate of Incorporation with the Secretary of State of the State of Delaware, without any change to par value or the number of authorized shares of common stock. The Amendment became effective upon such filing. No fractional shares were issued in connection with the reverse stock split as all fractional shares were rounded up to the next whole share. All share and per share amounts of our common stock listed in this prospectus have been adjusted, as applicable, to give effect to the reverse stock split.

See Note 2, Summary of Significant Accounting Policies, for additional information on the 2025 reverse stock split in the notes to our unaudited condensed consolidated interim
financial statements included elsewhere in this prospectus.

Notwithstanding the recent debt and equity
transactions, as described in “—Liquidity and Capital Resources” and in Note 1 Description of Business and Basis of Presentation—Going Concern, Financial Condition and Liquidity and Capital Resources in the notes to the unaudited
condensed consolidated interim financial statements included elsewhere in this prospectus, management believes that substantial doubt
exists about the Company’s ability to continue as a going concern. We do not have sufficient liquidity to meet our operating needs
and satisfy our debt obligations for at least the next 12 months. The Company will need to engage in additional financings to fund our
operations, continue to fund payroll for employees, and satisfy our obligations in the near term. Without such additional funding, we
will not be able to continue operations and may be required to sell assets, liquidate and/or file for bankruptcy.

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Amendment to Company’s Certificate of Incorporation allowing stockholders to act by written consent

On June 27, 2025, the stockholders of the Company, approved an amendment (the “Written Consent