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

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 31, 2024 (the “2024 Form 10-K”) and the related notes, which provide a more
complete discussion of the Company’s accounting policies and certain other information. The condensed consolidated balance sheet
as of December 31, 2024 has been derived from the audited consolidated financial statements of the Company. These unaudited condensed
consolidated interim financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements
and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for
the fair statement of the Company’s consolidated financial information. These interim results are not necessarily indicative of
the results to be expected for the fiscal year ended December 31, 2025, or for any other interim period or for any other future year.

On
June 10, 2024, the stockholders of the Company approved an amendment to the Company’s Certificate of Incorporation to effect a
reverse stock split of the issued and outstanding shares of the Company’s common stock, par value $0.00001 per share, at a ratio
ranging from 1-for-5 and 1-for-50, with the exact ratio to be set within that range by the Company’s board of directors (the “Board”).
On June 10, 2024, the Board approved the reverse stock split at a ratio of 1-for-35 (the “2024 Reverse Stock Split”). On
June 12, 2024, the Company filed a Certificate of Amendment to the Company’s Certificate of Incorporation with the Secretary of State
of the State of Delaware to effect the 2024 Reverse Stock Split, effective as of June 13, 2024.

As
a result of the 2024 Reverse Stock Split, every 35 shares of the Company’s common stock were automatically reclassified and converted
into one issued and outstanding share of common stock. No fractional shares were issued in connection with the Reverse Stock Split. Any
fractional shares resulting from the 2024 Reverse Stock Split were rounded up to the nearest whole share. The par value of the Company’s
common stock was not adjusted as a result of the 2024 Reverse Stock Split. All of the Company’s share numbers, per share amounts,
and related stockholders’ equity (deficit) balances presented herein have been retroactively adjusted to reflect the 2024 Reverse
Stock Split. In addition, the exercise prices, conversion rates