Company: VLDXW
Filing Date: 2025-06-25
Form Type: DRS
Source: 0001641172-25-016496
Chunk: 241

Company: Velo3D, Inc.
Filing Date: 2025-06-25
Form: DRS
Chunk 241
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 and one-fourth of one warrant . Each Public Warrant is exercisable to purchase shares of common stock at $402.50 per share. As of December 31, 2024, the number of Public Warrants issued was 246,429.

The Public Warrants may only be exercised for a whole number of shares. The Public Warrants became exercisable on December 7, 2021. The Public Warrants will expire 5 years after the completion of the Merger or earlier upon redemption or liquidation.

Common Stock Warrant Liabilities

The liability for warrants on common stock carried at fair value was as follows:

|                                                |     | December       
 31,            
 2024           
 (In thousands) |         |   |     | 2023 |        |   |
|:-----------------------------------------------|:----|:---------------|--------:|:--|:----|:-----|-------:|:--|
| Beginning Balance                              |     | $              |  11,835 |   |     | $    |  2,745 |   |
| Issuance of common stock warrant in connection 
 with financing                                 |     |                |  22,425 |   |     |      | 11,428 |   |
| Loss on fair value of                          
 warrants                                       |     |                | (32,093 | ) |     |      | (2,338 | ) |
| Ending Balance                                 |     | $              |   2,167 |   |     | $    | 11,835 |   |

The liabilities associated with the Private Placement Warrants, 2022 Private Warrant, RDO Warrants, and Placement Agent Warrants were subject to remeasurement at each balance sheet date using the Level 3 fair value inputs and the Public Warrants were subject to remeasurement at each balance sheet date using the latest trading price of the warrants for the years ended December 31, 2024 and 2023.

| F-38 |

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

Pursuant to 17 CFR 200.83

Velo3D, Inc.

Notes to Consolidated Financial Statements</div>

Private Placement Warrant - Fair Value Assumption

The fair value of the private placement common stock warrant liability was $0 as of December 31, 2024 as the publicly traded price was $0.00 as of December 31, 2024