Company: VLDXW
Filing Date: 2025-06-25
Form Type: DRS
Source: 0001641172-25-016496
Chunk: 292

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 292
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 period that the warrant is expected to be outstanding and is determined using the simplified method, which deems the term to be the average of the time to vesting and the contractual life of the warrant.

Contingent Earnout Liabilities

The contingent earnout liability is for Earnout Shares (as defined below) for pre-closing Legacy Velo3D equity holders (“Eligible Legacy Velo3D Equityholders”). During the time period between September 29, 2021 (the “Closing Date”) and the five-year anniversary of the Closing Date, Eligible Legacy Velo3D Equityholders may receive up to 621,661 shares of common stock (the “Earnout Shares”), which is based on two tranches of 310,830 per tranche. The Earnout Shares issuable to holders of employee stock options are accounted as stock-based compensation expense as they are subject to forfeiture based on the satisfaction of certain employment conditions. See Note 11, Equity Incentive Plans & Stock Based Compensation, for further discussion.

| F-73 |

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

Pursuant to 17 CFR 200.83</div>

See Note 4, Fair Value Measurements, in this Report for the liability for contingent earnout liabilities carried at fair value for the three months ended March 31, 2025 and 2024.

Fair Value Assumptions – Contingent Earnout Liabilities

Assumptions used in the fair value of the contingent earnout liabilities are described below.

|                         |     |   |        As 
        of 
 March 31, 
      2025 |   |     |   |       As 
       of 
 December 
 31, 2024 |   |
|:------------------------|:----|:--|----------:|:--|:----|:--|---------:|:--|
| Current stock price     |     | $ |      0.68 |   |     | $ |     0.68 |   |
| Expected volatility     |     |   |     161.2 | % |     |   |    161.2 | % |
| Risk-free interest rate |     |   |       4.2 | % |     |   |      4.2 | % |
| Dividend yield          |     |   |         — | % |     |   |        — | % |
| Expected Term