secwatch.observer — SEC 8-K summary
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Issuer:     Velo3D, Inc. (VELO)
CIK:        0001825079
Form:       8-K
Filed at:   2025-02-12T23:59:59+00:00
Accession:  0001493152-25-006118
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1825079/000149315225006118/0001493152-25-006118-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1825079/000149315225006118/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-006118

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