Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 170

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 170
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 4.97 |     |        | 5.48 |
| 3 months                           |     |                                   | 0.51 |     |    | 0.98 |     |    | 1.56 |     |    | 2.25 |     |    | 2.96 |     |    | 3.65 |     |    | 4.29 |     |    | 4.89 |     |        | 5.48 |
| 0 months                           |     |                                   |    - |     |    |    - |     |    | 0.63 |     |    | 1.73 |     |    | 2.69 |     |    | 3.50 |     |    | 4.22 |     |    | 4.85 |     |        | 5.48 |

| 108 |

The exact fair market value and redemption date may
not be set forth in the table above, in which case, if the fair market value is between two values in the table or the redemption date
is between two redemption dates in the table, the number of shares of common stock to be issued for each warrant exercised will be determined
by a straight-line interpolation between the number of shares set forth for the higher and lower fair market values and the earlier and
later redemption dates, as applicable, based on a 365- or 366- day year, as applicable. For example, 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 $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