Company: VLDXW
Filing Date: 2025-06-16
Form Type: DEFA14A
Source: 0000950170-25-086552
Chunk: 23

Company: Velo3D, Inc.
Filing Date: 2025-06-16
Form: DEFA14A
Chunk 23
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 vote thereon were present and voted.

Additionally, for so long as we are subject to the reporting requirements of the Exchange Act, even if the Written Consent Amendment is approved and filed with the Secretary of State of the State of Delaware, such that stockholders would be permitted to act by written consent in the future, we would still have to comply with certain SEC rules, which require the filing of an information statement on Schedule 14C to inform stockholders in accordance with Rule 14c-2 promulgated under the Exchange Act of the actions taken by written consent before such actions take effect. Such actions would then become effective on the 20thday after a definitive information statement is mailed to stockholders. Such an information statement would also satisfy the notice requirements under Section 228 of DGCL.

While this Proposal is not prompted by any specific contemplated or anticipated stockholder action of which the Board is currently aware, if approved, the Board believes the Written Consent Amendment will provide additional flexibility to the Company, the Board and management given the Company’s current stock ownership.

Risks Associated with the Written Consent Amendment

Unlike meetings of stockholders, action by written consent may:

result in certain stockholders being denied the ability to vote on or otherwise have a say on or be informed about (other than in an information statement filed by the Company) proposed stockholder actions;

enable the minimum percentage of stockholders required to approve an action under the DGCL to take action on a proposal without the benefit of hearing the views, questions and arguments of other stockholders;

potentially result in multiple contradictory stockholder written consents being solicited simultaneously, creating administrative and financial burdens for the company and also putting our stockholders at risk of confusion;

disenfranchise smaller stockholders, in particular in a consent solicitation that does not require their involvement to achieve majority support; and

enable a party attempting an unsolicited bid to circumvent negotiating with the Board and result in terms that may not be in the best interest of all stockholders.

In addition, action by written consent eliminates the need for notice to be given to stockholders about a proposed action prior to the approval of such action, and therefore, certain stockholders may not be informed about the proposed action until after the action has already been taken. This would deny these stockholders the ability to determine whether to exercise their rights, such as by expressing their views as to the merits of the proposal, encouraging the Board to reconsider the matter and voting on the proposed action.

Effect of Proposal

If the Written Consent