---
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"
generated_at: "2026-05-26T22:59:40.651187+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Velo3D issues $10M secured convertible note at 30% interest, conversion at $1

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-006118
- JSON: https://secwatch.observer/filing/0001493152-25-006118.json
- Plain text: https://secwatch.observer/filing/0001493152-25-006118.txt

## Key facts
- Debt Financings
  Velo3D, Inc. incurred convertible notes of $10,000,000 with Thieneman Construction, Inc. maturing six months from the date such tranche was funded.
  - Instrument: convertible notes
  - Principal: $10,000,000
  - Counterparty: Thieneman Construction, Inc.
  - Maturity: six months from the date such tranche was funded
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1825079/000149315225006118/0001493152-25-006118-index.htm

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