Company: VLDXW
Filing Date: 2025-12-12
Form Type: 8-K
Source: 0001493152-25-027594
Chunk: 1

Company: Velo3D, Inc.
Filing Date: 2025-12-12
Form: 8-K
Item: Item 1.01
Chunk 1
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 Schedule, the Company will have, among other things, the option to either purchase
the Equipment described in the Schedule for a price to be agreed upon by the Company and Varilease, or extend the lease term of the Schedule
for a period of 12 months at the base monthly rental.

The
Master Lease Agreement includes customary events of default, including non-payment by the Company of the monthly rental or other charges
due under the Schedule. The Master Lease Agreement provides that in the event of the declaration by Varilease of a default, the Company
would pay to Varilease, among other things, any unpaid amount due on or before the declaration of default plus liquidated damages equal
to the Stipulated Loss Value of the Equipment. The Stipulated Loss Value of the Equipment is an amount equal to 110% of the Company’s
original cost for such Equipment less 1.25% of such cost for each month elapsed during the lease term through the declaration of default.

In
connection with the transactions described above, the Company also entered into Debt Subordination Agreements, dated as of December 8,
2025, with Varilease, Thieneman Properties, LLC and Thieneman Construction, pursuant to which Thieneman Properties, LLC (an entity also
controlled by Mr. Thieneman) and Thieneman Construction agreed to subordinate their respective security interests in the Equipment to
Varilease relating to outstanding promissory notes issued by the Company.

The
foregoing descriptions of the Sale Leaseback Agreement, Master Lease Agreement, Schedule and the Debt Subordination Agreements do not
purport to be complete and are qualified in their entirety by the full text of the Sale Leaseback Agreement, Master Lease Agreement,
Schedule and the Form of Debt Subordination Agreement, copies of which are filed as Exhibits 10.1, 10.2, 10.3, and 10.4, respectively,
to this Current Report on Form 8-K and are incorporated herein by reference.