---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-051999"
form_type: "8-K"
ticker: "VELO"
cik: "0001825079"
company_name: "Velo3D, Inc."
filed_at: "2024-12-26T23:59:59+00:00"
generated_at: "2026-05-28T23:22:06.341757+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Velo3D exchanges $22.4M debt for 185M shares; Holder gets 95% control, new CEO appointed

## Summary
- 81.7% of senior secured notes cancelled ($22.38M principal + $369K accrued interest) for 185,151,333 shares.
- Arrayed Notes Acquisition Corp now owns 95% of outstanding common stock; remaining $5M notes stay.
- CEO Brad Kreger steps down, appointed COO; Arun Jeldi (Arrayed Additive CEO) becomes CEO and director.
- Six board members resign (Carl Bass, Ellen Smith, Gabrielle Toledano, Matthew Walters, Benyamin Buller, Darryl Porter); board reduced from 10 to 5.
- Bylaws amended to grant majority holder special meeting and consent rights; company remains publicly traded on OTCQX.

## SEC filing metadata
- accession: 0001493152-24-051999
- form_type: 8-K
- ticker: VELO
- cik: 0001825079
- company_name: Velo3D, Inc.
- filed_at: 2024-12-26T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 5.01, 5.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1825079/000149315224051999/0001493152-24-051999-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1825079/000149315224051999/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-051999
- JSON: https://secwatch.observer/filing/0001493152-24-051999.json
- Plain text: https://secwatch.observer/filing/0001493152-24-051999.txt

## Key facts
- Governance Changes
  Velo3D, Inc.: Board adopted Second Amended and Restated Bylaws with amendments regarding Majority Holder exemption, removal of director confidentiality requirement, and allowance of stockholder action by written consent (effective 2024-12-24).
  - Change: bylaw amendment
  - Effective: 2024-12-24
  source text: Effective December 24, 2024, the Board approved and adopted the Second Amended and Restated Bylaws of the Company (the “Bylaws”), which amend and restate the Amended and Restated Bylaws of the Company that were previously in effect.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1825079/000149315224051999/0001493152-24-051999-index.htm
- M&A Transactions
  Velo3D, Inc. underwent a change of control involving Arrayed Notes Acquisition Corp. for cancellation of $22,382,000.00 in principal amount of the Company’s Senior Secured Notes due 2026 plus $369,303.00 of accrued interest (closed 2024-12-24).
  - Action: change of control
  - Counterparty: Arrayed Notes Acquisition Corp.
  - Consideration: cancellation of $22,382,000.00 in principal amount of the Company’s Senior Secured Notes due 2026 plus $369,303.00 of accrued interest
  - Closing: 2024-12-24
  source text: On December 24, 2024, as a result of the closing of the transactions contemplated by the Exchange Agreement, a change in control of the Company occurred.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1825079/000149315224051999/0001493152-24-051999-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.