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Velo3D | 8-K: Current report

SEC announcement ·  Apr 2 08:39
Summary by Moomoo AI
On April 1, 2024, Velo3D, Inc., a company specializing in 3D metal printing technology, entered into a second amendment to its senior secured notes due 2026 with High Trail Investments ON LLC and an affiliated institutional investor, as well as U.S. Bank Trust Company, National Association, as trustee. The amendment, known as the Second Note Amendment, involves a cash payment of $5.5 million by Velo3D to redeem approximately $4.2 million of the aggregate principal amount of the notes, including accrued and unpaid interest, on the same day. An additional payment of $5.5 million is scheduled for April 15, 2024, to repay around $4.6 million of principal of the notes, again with accrued and unpaid interest. Concurrently, Velo3D issued warrants to the investors to purchase over 21 million shares of the company's common...Show More
On April 1, 2024, Velo3D, Inc., a company specializing in 3D metal printing technology, entered into a second amendment to its senior secured notes due 2026 with High Trail Investments ON LLC and an affiliated institutional investor, as well as U.S. Bank Trust Company, National Association, as trustee. The amendment, known as the Second Note Amendment, involves a cash payment of $5.5 million by Velo3D to redeem approximately $4.2 million of the aggregate principal amount of the notes, including accrued and unpaid interest, on the same day. An additional payment of $5.5 million is scheduled for April 15, 2024, to repay around $4.6 million of principal of the notes, again with accrued and unpaid interest. Concurrently, Velo3D issued warrants to the investors to purchase over 21 million shares of the company's common stock at an exercise price of $0.4556 per share. These warrants will become exercisable 45 days after issuance and may be exercised in cash or by reducing the outstanding principal amount under the notes. The company has also committed to filing a Resale Registration Statement with the SEC to facilitate the resale of the Warrant Shares. This financial maneuver is part of Velo3D's strategic financial management and is aimed at optimizing its capital structure.

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