Velo3D announces pricing of $12 million public offering

April 11, 2024

Velo3D, Inc, headquartered in Campbell, California, USA, has announced the pricing of its public offering of 34,285,715 shares of common stock, and warrants to purchase up to 34,285,715 shares of common stock. The securities were sold to new and existing institutional investors at an offering price of $0.35 per share and accompanying warrant for aggregate gross proceeds of approximately $12 million, before deducting placement agent fees and other offering expenses. The warrants are immediately exercisable at an exercise price of $0.35 per share and expire five years after the date of issuance.

The closing of the offering is expected to occur on or about April 12, 2024, subject to the satisfaction of customary closing conditions. The company said it intends to use the net proceeds from this offering to primarily fund working capital and capital expenditures and other general corporate purposes, including repayment of the company’s senior secured notes due 2026 and other permitted indebtedness.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering on a reasonable best-efforts basis.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-268346) previously filed with the US Securities and Exchange Commission (the SEC), which was declared effective by the SEC on November 21, 2022. The offering will be made only by means of a prospectus supplement and accompanying base prospectus. The preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website.

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