Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 56

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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 LLC (together with
HTI, the “High Trail Holders”), pursuant to which: (a) the Highbridge Holders and the Anson Holders agreed to exchange
an aggregate of 60,150 registered warrants issued in April 2024 and an aggregate of 99,048 registered warrants issued in August
2024, and (b) the High Trail Holders agreed to exchange an aggregate of 151,808 unregistered warrants issued in April 2024 and July
2024, and an aggregate of 19,048 registered warrants issued in December 2023, for an aggregate of 990,159 shares (the
“Acquired Shares”) of Company’s common stock, respectively, equating in each case to an exchange ratio of three
Acquired Shares for each warrant.

On
January 7, 2025, the Company issued a Senior Secured Convertible Promissory Note in the principal amount of $5,000,000 (the
“January Note”) to Thieneman Properties, LLC, an Indiana limited liability company. The January Note bears interest at a
rate of 60.0% per annum, was payable in full on April 7, 2025 in the amount of $5,750,000 and if not paid on or prior to such date,
would 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 $23.40 per share. On April 7, 2025, the Company made a payment of $750,000, covering the first three
months of interest on the January Note.

On
February 10, 2025, the Company issued a Senior Secured Convertible Promissory Note in the principal amount of $10,000,000 (the “February
Note”) to Thieneman Construction, Inc, an Indiana corporation, to be funded in two tranches of $5,000,000. The February Note bears
interest at a rate of 30.0% per annum, is payable in full on the date that is six months from the date such tranche was funded, (the first tranche and second tranche were received by the Company on February 10, 2025 and March 20, 2025, respectively), in the
amount of $