Company: VLDXW
Filing Date: 2025-12-12
Form Type: 8-K
Source: 0001493152-25-027594
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Company: Velo3D, Inc.
Filing Date: 2025-12-12
Form: 8-K
Item: Item 1.01
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Item      Entry                                  

On
December 8, 2025, Velo3D, Inc. (the “ Company”) and Varilease Finance, Inc. (“ Varilease”) entered into a Sale
Leaseback Agreement (the “ Sale Leaseback Agreement”) pursuant to which the Company agreed to sell to Varilease, and subject
to the conditions set forth therein, Varilease agreed to purchase from the Company, assorted Velo3D Sapphire and Sapphire XC metal 3D
printers and post processing tools and equipment owned and used by the Company (the “ Equipment”). The aggregate purchase
price for the Equipment to be received by the Company is $10 million.

Concurrently
with entering into the Sale Leaseback Agreement, the Company, its wholly owned subsidiary, Velo3D US, Inc., and Thieneman Construction,
Inc. (“ Thieneman Construction”), as co-lessees (collectively, the “ Lessee”), entered into a Master Lease Agreement
(the “ Master Lease Agreement”), which sets forth the controlling terms and conditions by which the Lessee would lease from
Varilease, as lessor, items of personal property and equipment. Thieneman Construction is an entity controlled by Kenneth Thieneman,
a member of the board of directors of the Company. Concurrent with entry into the Sale Leaseback Agreement and the Master Lease Agreement,
Varilease and the Lessee entered into lease Schedule No. 01 (the “ Schedule”). The Schedule (which incorporates the terms
of the Master Lease Agreement where appropriate) sets forth the terms and conditions pursuant to which Varilease would lease to the Company
the Equipment to be purchased by Varilease from the Company pursuant to the Sale Leaseback Agreement. The Schedule provides for a 36-month
base lease term and specifies the calculation for the base monthly rental amount for the Equipment during such term. During the lease
term, all of the costs, expenses and liabilities associated with the Equipment are to be borne by the Company, and the Company is entitled
to the unlimited use of the Equipment. Each of the Company, Velo3D US, Inc., and Thieneman Construction are jointly and severally liable
for the performance of all obligations and bound to all terms and conditions under the Master Lease Agreement and Schedule, including,
but not limited to, the payment of base monthly rental amount and any other amounts due under the Master Lease Agreement and Schedule.

At
the completion of the base lease term provided in the