Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 156

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 156
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 connected dividends may also be subject to an additional “branch profits tax,” which is imposed, under certain circumstances, at a rate of 30% (or such lower rate as may be specified by an applicable treaty) on the corporate Non-U.S. Holder’s effectively connected earnings and profits, subject to certain adjustments. Non-U.S. Holders should consult their tax advisors regarding any applicable income tax treaties that may provide for different rules.

| 99 |

To the extent distributions on our common stock, if any, exceed our current and accumulated earnings and profits, they will first reduce the Non-U.S. Holder’s adjusted basis in our common stock, but not below zero, and then will be treated as capital gain to the extent of any excess, and taxed in the same manner as gain realized from a sale or other disposition of common stock as described in the next section.

Gain on Disposition of Our Common Stock. Subject to the discussions below regarding backup withholding and foreign accounts, a Non-U.S. Holder generally will not be subject to U.S. federal income tax with respect to gain realized on a sale or other disposition of our common stock unless:

| (a) | the                                                                                          
 gain is effectively connected with a trade or business of the Non-U.S. Holder in the United  
 States (and, if required by an applicable income tax treaty, is attributable to a permanent  
 establishment or fixed base that such Non-U.S. Holder maintains in the United States),       |
| (b) | the                                                                                          
 Non-U.S. Holder is a nonresident alien individual and is present in the United States for    
 183 or more days in the taxable year of the disposition and certain other conditions are     
 met, or                                                                                      |
| (c) | we                                                                                           
 are or have been a “United States real property holding corporation,” or USRPHC,             
 within the meaning of Code Section 897(c)(2) at any time within the shorter of the five-year 
 period preceding such disposition and such Non-U.S. Holder’s holding period.                 |

In general, we would be a USRPHC if the aggregate fair market value of our “United States real property interests” (within the meaning of Code Section 897(c)(1)) (“USRPIs”), equaled or exceeded fifty percent (50%) of the combined fair market value of our USRPIs, our non-U.S. real property interests and our other business assets. We believe that we have not been and are not, and do not anticipate