secwatch.observer — SEC 8-K summary
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Issuer:     Velo3D, Inc. (VELO)
CIK:        0001825079
Form:       8-K
Filed at:   2025-01-10T23:59:59+00:00
Accession:  0001493152-25-001591
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Velo3D issues $5M convertible note at 60% interest; appoints CEO Arun Jeldi at $425K salary
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- Issued $5M senior secured convertible note to Thieneman Properties, LLC; maturity April 7, 2025.
- Note bears 60% annual interest; conversion price $1.56 per share if default occurs.
- CEO Arun Jeldi appointed (effective Dec 24, 2025) with base salary $425K and target bonus 80% of base.
- COO Bradley Kreger base salary approved at $400K per year.
- Note secured by accounts receivable and inventory; subsidiary Velo3D US, Inc. provides guaranty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825079/000149315225001591/0001493152-25-001591-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825079/000149315225001591/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-001591

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer