Company: VLDXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047760
Chunk: 68

Company: Velo3D, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 68
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        2027

        2,400

        2028

        2,490

        2029

        2,585

        Thereafter

        6,194

        Total operating lease payments
         
        $
        18,489

        Less portion representing imputed interest

        (8,516
        )

        Total operating lease liabilities
         
        $
        9,973

        Less current portion

        1,612

        Long-term portion
         
        $
        8,361

Note 9. Long-Term DebtDebt consisted of the following: 

        December 31,

        2024

        2023

        (In thousands)

        Secured notes
         
        $
        5,666

        $
        33,516

        Deferred financing costs

        —

        (384
        )

        Total
         
        $
        5,666

        $
        33,132

        Debt – current portion

        5,666

        21,191

        Long-term debt – less current portion
         
        $
        —

        $
        11,941

       Secured Convertible Notes — On August 10, 2023, the Company entered into the Securities Purchase Agreement with High Trail Investments ON LLC and an affiliated institutional investor (together, the "Investors") pursuant to which the Company agreed to issue and sell in an offering up to $105 million aggregate principal amount of senior secured convertible notes (the "Secured Convertible Notes"). On August 14, 2023, the Company issued $70 million aggregate principal amount of Secured Convertible Notes to the Investors. In addition, the Company granted the Investors the right to purchase up to an additional $35 million aggregate principal amount of the Secured Convertible Notes so long as the notice to exercise such option was provided no later than August 14, 2024. The Secured Convertible Notes bore interest at 6.00% per annum, payable quarterly in cash on January 1, April 1, July 1 and October 

 105

Velo3D, Inc.Notes to Consolidated Financial Statements 

1 of each year, commencing on October 1, 2023, and would mature on August 1, 2026. The Secured Convertible Notes included covenants