Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 173

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 173
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 to the date on which the notice
of redemption is sent to the holders of the warrants is $5,775.00 per share, and at such time there are 57 months until the expiration
of the warrants, holders may choose to, in connection with this redemption feature, exercise their warrants for 145.425 shares of
common stock for each whole warrant. For an example where the exact fair market value and redemption date are not as set forth in the
table above, if the volume weighted average price of the shares of common stock as reported during the 10 trading days ending on the
third trading day prior to the date on which the notice of redemption is sent to the holders of the warrants is $7,087.50 per share,
and at such time there are 38 months until the expiration of the warrants, holders may choose to, in connection with this redemption
feature, exercise their warrants for 156.45 shares of common stock for each whole warrant. In no event will the warrants be exercisable
on a cashless basis in connection with this redemption feature for more than 191.625 shares of common stock per warrant (subject
to adjustment). Finally, as reflected in the table above, if the warrants are out of the money and about to expire, they cannot be exercised
on a cashless basis in connection with a redemption by us pursuant to this redemption feature, since they will not be exercisable for
any shares of common stock.

This redemption feature is structured to allow for all of the outstanding warrants to be redeemed when the shares of common stock are trading at or above $5,250.00 per share, which may be at a time when the trading price of our shares of common stock is below the exercise price of the warrants. We have established this redemption feature to provide us with the flexibility to redeem the warrants without the warrants having to reach the $9,450.00 per share threshold set forth above. Holders choosing to exercise their warrants in connection with a redemption pursuant to this feature will, in effect, receive a number of shares of common stock for their warrants based on an option pricing model with a fixed volatility input. This redemption right provides us with an additional mechanism by which to redeem all of the outstanding warrants, and therefore have certainty as to our capital structure as the warrants would no longer be outstanding and would have been exercised or redeemed. We will be required to pay the applicable redemption price to warrant holders if we choose to exercise this redemption right and it will allow us to quickly