Velo3D defers $10.5M debt payment; issues 1.65M warrants at $3.00/share

Velo3D, Inc.

Third Note Amendment defers July 1, 2024 $10.5M redemption into 10 equal monthly payments starting Aug 1, 2024.
Issued warrants for 1,650,000 shares at $3.00/share to note holders High Trail Investments ON LLC and HB SPV I Master Sub LLC.
Warrants exercisable for 5 years after resale registration statement declared effective; registration to be filed within 30 days.
Default under warrants triggers event of default under the senior secured notes due 2026.
Warrants were issued in reliance on Section 4(a)(2) and Rule 506(b) exemption.

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