Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 281

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 281
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 5,583 |     |              |     — |
| February Note 2nd Tranche             |     |                |  5,425 |     |              |     — |
| Secured Notes                         |     |                |  5,767 |     |              | 5,666 |
| Total                                 |     | $              | 22,475 |     | $            | 5,666 |
| Debt – current portion                |     |                | 16,913 |     |              | 5,666 |
| Long-term debt – less current portion |     | $              |  5,562 |     | $            |     — |

As of June 30, 2025, the Company’s debt consists of the Secured Notes, the January Note, and the February Note. The Company and Arrayed entered into a forbearance agreement where Arrayed forbore from taking any enforcement action as a result of the occurrences and/or continuation of any specified events of default. For a full description of these debt arrangements, see Note 9, Debt, in the audited consolidated financial statements included in the 2024 Form 10-K.

Convertible Secured Note

On January 7, 2025, the Company issued the January Note, a Senior Secured Convertible Promissory Note in the principal amount of $ 5,000,000to Thieneman Properties, LLC, an Indiana limited liability company. The January Note bears interest at a rate of 60.0% per annum, was initially payable in full on April 7, 2025 in the amount of $ 5,750,000and if not paid on or prior to such date, will continue to accrue interest at the same rate until paid. The January Note may be prepaid in whole or in part at any time without penalty or premium and is convertible in the event of default into shares of the Company’s common stock, at a fixed conversion price of $ 1.56per share. On April 7, 2025, the Company made a payment of $ 750,000, which fulfilled its obligations of interest owed through the aforementioned date. The Company continues to accrue interest on the principal amount of the January Note until such time it will be repaid. During the three and six months ended June 30, 2025, the Company incurred total interest expense of $ 0.8million and $ 1.