Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 114

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 114
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 Investments ON LLC and an affiliated institutional
investor, the Company also entered into a letter agreement (the “Letter Agreement”) with the Investors pursuant to which
the Company issued to the Investors warrants (the “2024 Private Warrants”) to purchase up to an aggregate of 41,808 shares
of Common Stock. The 2024 Private Warrants became exercisable 45 days after the original issuance date (the “Initial Exercise Date”),
are exercisable at an exercise price of $199.35 per share and will expire on the one year anniversary of the later of (i) the Initial
Exercise Date and (ii) the date on which the Resale Registration Statement (as defined in the Letter Agreement) is declared effective
by the SEC. The Investors may exercise the 2024 Private Warrants by paying the exercise in cash or by reducing the outstanding principal
amount under the Secured Notes by an amount equal to the quotient of (A) the amount of the exercise price divided by (B) 1.20. The 2024
Private Warrants may also be exercised on a cashless basis under certain circumstances.

In connection with the Third Note Amendment,
on July 1, 2024, the Company also entered into a letter agreement with the Investors pursuant to which the Company issued to the Investors
warrants (the “July 2024 Private Warrants”) to purchase up to an aggregate of 110,000 shares of common stock. The July 2024
Private Warrants became exercisable 45 days after the original issuance date, are exercisable at an exercise price of $37.50 per share
and will expire on the five year anniversary of the issuance date.

The Investors may exercise the 2024 Private
Warrants by paying the exercise in cash or by reducing the outstanding principal amount under the Secured Notes by an amount equal to
the quotient of (A) the amount of the exercise price divided by (B) 1.20. The July 2024 Private Warrants may also be exercised on a cashless
basis under certain circumstances.

On August 12, 2024, the Company entered into
a warrant inducement with certain warrant holders. Pursuant to the Inducement Agreement, the company and the holders of certain existing
warrants to purchase up to 49,524 shares of common stock agreed to reduce the exercise price of such existing warrants from $296.70 per
share to $34.20 per share. Additionally,