Company: VLDXW
Filing Date: 2025-06-25
Form Type: DRS
Source: 0001641172-25-016496
Chunk: 198

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 198
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 million in principal amount of the Notes, and became the owner of approximately 95% of the Company’s issued and outstanding common stock.

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<div align='center'>Confidential Treatment Requested by Velo3D, Inc.

Pursuant to 17 CFR 200.83

Velo3D, Inc.

Notes to Consolidated Financial Statements</div>

In December 2023, the Board of Directors commenced a strategic business review process to explore alternatives in order to maximize stockholder value. The potential strategic alternatives actively being explored or evaluated currently included a potential merger, business combination or sale. The Company’s strategic review was concluded on December 24, 2024, at the close of the debt for equity exchange transaction.

On January 7, 2025, the Company issued a Senior Secured Convertible Promissory Note in the principal amount of $5,000,000 (the “January Note”) to Thieneman Properties, LLC, an Indiana limited liability company. The January Note is payable in full on April 7, 2025 in the amount of $5,750,000 and if not paid on or prior to such date, will continue to accrue interest at the same rate until paid. The January Note may be prepaid in whole or in part at any time without penalty or premium and is convertible in the event of default into shares of the Company’s common stock, at a fixed conversion price of $1.56 per share.

On February 10, 2025, the Company issued a Senior Secured Convertible Promissory Note in the principal amount of $10,000,000 (the “February Note”) to Thieneman Construction, Inc, an Indiana corporation, to be funded in two tranches of $5,000,000. The February Note is payable in full on the date that is six months from the date such tranche was funded, in the amount of $5,750,000 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 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 shares of the Company’s common stock at a fixed conversion price of $1.00 per share.

Further, the Company will need to engage in additional financings to fund its operations and satisfy its obligations in the near