Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 298

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 298
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 and the contractual life of the warrant.

BEPO Warrants, BEPO Agent Warrant - Fair Value Assumptions

The fair value assumptions used in the Black-Scholes simulation model for the valuation of the BEPO Warrant and the BEPO Agent Warrant liabilities were as follows:

|                         |     |   |         As of 
 June 30, 2025 |   |     |   |             As of 
 December 31, 2024 |   |
|:------------------------|:----|:--|--------------:|:--|:----|:--|------------------:|:--|
| Current stock price     |     | $ |          7.20 |   |     | $ |             10.20 |   |
| Expected volatility     |     |   |         154.6 | % |     |   |             139.9 | % |
| Risk-free interest rate |     |   |           4.1 | % |     |   |               4.4 | % |
| Dividend yield          |     |   |             — | % |     |   |                 — | % |
| Expected Term (years)   |     |   |          3.78 |   |     |   |              4.28 |   |

Expected volatility: The expected volatility was derived from the implied volatility of the Company’s publicly traded common stock.

Risk-free interest rate: The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for zero-coupon U.S. Treasury notes with maturities corresponding to the expected term of the common stock warrants.

Expected dividend yield: The expected dividend rate is zero as the Company currently has no history or expectation of declaring dividends on its common stock.

Expected term: The expected term represents the 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.

August Inducement Warrants - Fair Value Assumptions

The fair value assumptions used in the Black-Scholes simulation model for the valuation of the August Inducement Warrant liabilities were as follows:

|                         |     |   |         As of 
 June 30, 2025 |   |     |   |             As of 
 December 31, 2024 |   |
|:------------------------|:----|:--|