Velo3D completes strategic review to position the company for growth in 2025

January 20, 2025

Companies & MarketsNews
January 20, 2025
Velo3D has completed a strategic review process set to position the company for growth in 2025 (Courtesy Velo3D)
Velo3D has completed a strategic review process set to position the company for growth in 2025 (Courtesy Velo3D)

Velo3D, headquartered in Fremont, California, USA, reports it has formally completed a strategic review process that commenced in December 2023. As a result, the company has implemented key corporate actions that it believes will position Velo3D for sustainable growth in 2025.

The recommendations included a debt for equity exchange resulting in Arrayed Notes Acquisition Corp. (the Holder) ultimately owning 95% of the issued and outstanding common shares of Velo3D. This was followed by the resignation of six board members and the appointment of Arun Jeldi, CEO of Arrayed Additive, as the company’s new board member and the company’s Chief Executive Officer.

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The process also resulted in the launch of the company’s new go-to-market strategy to identify and maximise multiple revenue streams, as well as an increasing focus on providing a total solutions-based approach for customers, which includes both system and parts sales.

“Completing the strategic review is a significant milestone for Velo3D and I am pleased to be leading Velo3D in the new era of growth,” stated Arun Jeldi, CEO of Velo3D. “Our focus remains on providing customers with our industry leading, large-format metal 3D printing solutions and look forward to working with all of our stakeholders to make the company successful. Additionally, as these actions also show, we have taken a number of steps to accelerate our path to profitability and execute on a sustainable, long term business model. While I am very happy with what the Company has accomplished to date, I am much more excited about the future of Velo3D as we embark on our next chapter of growth.”

velo3d.com

Companies & MarketsNews
January 20, 2025

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