{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-006118","form_type":"8-K","ticker":"VELO","cik":"0001825079","company_name":"Velo3D, Inc.","filed_at":"2025-02-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.102026+00:00","generated_at":"2026-05-26T22:59:40.651187+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Velo3D issues $10M secured convertible note at 30% interest, conversion at $1","bullets":["Issued $10M senior secured convertible note to Thieneman Construction in two $5M tranches; first tranche funded Feb 10, 2025.","Note carries 30% annual interest; each tranche matures 6 months from funding, with repayment of $5.75M per tranche.","Conversion price of $1.00 per share triggers upon listing on a national exchange or during an Event of Default.","Note secured by accounts receivable and inventory; guaranteed by subsidiary Velo3D US, Inc.","Company's common stock currently not listed on any national exchange; no registered trading symbol."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-006118","json":"https://secwatch.observer/filing/0001493152-25-006118.json","markdown":"https://secwatch.observer/filing/0001493152-25-006118.md","text":"https://secwatch.observer/filing/0001493152-25-006118.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1825079/000149315225006118/0001493152-25-006118-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1825079/000149315225006118/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T22:59:40.651187+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"f5024eed338bc3dfdd6011804623362c3bfe080e","claim":"Velo3D, Inc. incurred convertible notes of $10,000,000 with Thieneman Construction, Inc. maturing six months from the date such tranche was funded.","evidence_excerpt":"February 10, 2025, Velo3D, Inc. (the “Company”) issued a Senior Secured Convertible Promissory Note in the principal amount of $10,000,000 (the “Note”) to Thieneman Construction, Inc. (the “Holder”), an Indiana corporation, to be funded in two tranches of $5,000,000.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1825079/000149315225006118/0001493152-25-006118-index.htm","confidence":0.98,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$10,000,000"},{"label":"Counterparty","value":"Thieneman Construction, Inc."},{"label":"Maturity","value":"six months from the date such tranche was funded"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}