Velo3D, Inc. Announces $18 Million Registered Direct Offering

The Company intends to use the net proceeds from the offering for working capital, capital expenditures and general corporate purposes.

Velo3D, Inc., a metal additive manufacturing technology company for mission-critical parts, announced it has entered into securities purchase agreements with an existing lender of the Company and new institutional investors for the purchase and sale of 36,000,000 shares of common stock and warrants to purchase up to an aggregate of 36,000,000 shares of common stock at an offering price of $0.50 per share and accompanying warrant. The warrants are immediately exercisable at an exercise price of $0.565 per share, and expire five years after the date of issuance.

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Gross proceeds to the Company are expected to be approximately $18 million, before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds from the offering for working capital, capital expenditures and general corporate purposes.

The closing of the offering is expected to occur on or about December 29, 2023, subject to the satisfaction of customary closing conditions. A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.

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