Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 233

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 233
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 “Interest expense” in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss). The remaining unamortized balance of the Old Notes was expensed in connection with the extinguishment resulting from the Third Note Amendment. As of December 31, 2024, there is noremaining unamortized balance of deferred financing costs included in Debt — current portion on the balance sheets.

Additionally, the Company was accreting discounts of $ 17.8million and had capitalized it to the carrying value of the Secured Notes over the term of the Secured Notes using the effective interest rate method with $ 13.3million amortized to interest expense for the year ended December 31, 2024. The remaining unamortized balance of the Old Notes was expensed within “Loss on debt extinguishment” in connection with the extinguishment resulting from the Third Note Amendment. As of December 31, 2024, the unamortized discount of the New Notes was $ 0.3million, which includes the difference between the principal and the Repayment Price. For the year ended December 31, 2024, the Company paid $ 1.2million in interest and incurred a total of $ 15.4million in interest expense related to the Secured Notes. The effective interest rate fluctuated during the year ended December 31, 2024 due to the varying amendments and resulting modifications or extinguishments resulting from these amendments. Following the Exchange, the effective interest rate was 27.7%.

| F-32 |

Velo3D, Inc.

Notes to Consolidated Financial Statements

The future minimum aggregate payments for the above borrowings are equal to the expected payments made following the Exchange, beginning are as follows as of December 31, 2024:

Schedule of Maturities of Long-Term Debt

|           |     | (In        
 thousands) |       |
|:----------|:----|:-----------|------:|
| 2025      |     | $          | 5,993 |
| 2026      |     |            |     — |
| Long      
 Term Debt |     | $          | 5,993 |

As of December 31, 2024 and the issuance date of the audited consolidated financial statements, the Company was not in compliance with all covenants.

Revolving Credit Line —During the year ended December 31, 2022, the Company entered into modification agreements that made certain modifications to