Velo3D, Inc. (VELO): debt financing — Velo3D CFO resigns effective year-end; enters $10M sale-leaseback of printers

Velo3D, Inc.

Hull Xu resigns as CFO effective Dec 31, 2025; not due to any disagreement with company.
Board appoints controller Bernard Chung as acting CFO effective Dec 31, 2025; he previously served as acting CFO from Sep 2023 to Apr 2024.
Company sells $10M of Sapphire/Sapphire XC printers and equipment to Varilease Finance via sale-leaseback.
Lease has 36-month base term; Thieneman Construction (controlled by director) is co-lessee and jointly liable.
Debt subordination agreements with Thieneman entities subordinating security interests in the equipment to Varilease.

item 1.01 item 2.01 item 2.03 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Velo3D, Inc. incurred lease obligation of $10 million with Varilease Finance, Inc. maturing 36-month base lease term.

Instrument: lease obligation
Principal: $10 million
Counterparty: Varilease Finance, Inc.
Maturity: 36-month base lease term
Event: incurrence

Exact text from the filing

(the “Company”) and Varilease Finance, Inc. (“Varilease”) entered into a Sale Leaseback Agreement (the “Sale Leaseback Agreement”) pursuant to which the Company agreed to sell to Varilease, and subject

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Velo3D, Inc. entered into Sale Leaseback Agreement and Master Lease Agreement with Varilease Finance, Inc. valued at $10 million (effective 2025-12-08).

Action: entry
Agreement: lease
Counterparty: Varilease Finance, Inc.
Value: $10 million
Effective: 2025-12-08

Exact text from the filing

On December 8, 2025, Velo3D, Inc. (the “Company”) and Varilease Finance, Inc. (“Varilease”) entered into a Sale Leaseback Agreement (the “Sale Leaseback Agreement”) pursuant to which the Company agreed to sell to Varilease, and subject to the conditions set forth therein, Varilease agreed to purchase from the Company, assorted Velo3D Sapphire and Sapphire XC metal 3D printers and post processing tools and equipment owned and used by the Company (the “Equipment”). The aggregate purchase price for the Equipment to be received by the Company is $10 million.

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Velo3D, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-027594

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