Summary by Moomoo AI
On April 10, 2024, Velo3D, Inc., a prominent metal 3D printing technology company, announced the entry into securities purchase agreements with certain investors for the sale and issuance of approximately 34.3 million shares of common stock and equal warrants. The offering, priced at $0.35 per share and warrant, is expected to close on April 12, 2024, subject to customary closing conditions, with anticipated gross proceeds of approximately $12 million. The proceeds are intended for working capital, capital expenditures, and repayment of senior secured notes due 2026. The company has also entered into a placement agency agreement with A.G.P./Alliance Global Partners, who will arrange the sale and receive a cash fee and warrants as compensation. The offering is made under the company's effective shelf registration statement and includes a 60-day restriction on issuing additional shares post-closing, with certain exceptions. Directors and officers of the company have also agreed to a 90-day lock-up period for their securities. The announcement was accompanied by press releases on April 9 and 10, detailing the launch and pricing of the offering.