Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 234

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 234
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 the third amended and restated loan and security agreement. The modification agreements, among other things, extended the maturity date of the revolving line of credit, and increased the amount of the revolving credit line to $ 30.0million. As of December 31, 2022, the Company had $ 27.0million of the revolving credit line undrawn and deferred loan fees of less than $ 0.2million.

In 2023, the Company’s drew $ 14.0million on the revolving credit facility with a variable interest rate of the greater of 5.50%or Prime Rateplus 0.75%and due on December 31, 2024. The outstanding principal of $ 17.0million was repaid upon the issuance of the Secured Convertible Notes. As of December 31, 2023, the Company had no outstanding balance, remaining revolving credit line availability, or deferred loan fees.

The effective interest rate was 15.8% and 5.7% for the year ended December 31, 2023 and 2022, respectively. Interest expense for the year ended December 31, 2023 was $ 0.6million which included an additional $ 0.1million for final payments made during the extinguishment of the Revolving Credit Line.

Equipment Loan—On July 25, 2022, the Company entered into a joinder and fourth loan modification agreement that made certain modifications to its third amended and restated loan and security agreement, including establishing a secured equipment loan facility of up to $ 15.0million, secured by equipment leased to customers, available through December 31, 2023 with a variable interest rate of the greater of Prime rate or 3.25% and terms of three years.

As of December 31, 2022, the Company had executed a total of $ 8.0million in equipment loan advances. For the year ended December 31, 2022, $ 2.1million in principal payments were made on the equipment loan advances for an outstanding balance of $ 5.4million as of December 31, 2022.

For the year ended December 31, 2023, the Company executed a total of $ 1.6million in equipment loan advances and made $ 2.0million in principal payments. The outstanding principal of $ 4.9million was repaid upon the issuance of the Secured Convertible Notes. As of December