CAMPBELL, Calif.--(BUSINESS WIRE)-- Velo3D, Inc. (NYSE: VLD) (the "Company" or "Velo3D"), a leading metal additive manufacturing technology company for mission-critical parts, today announced that its board of directors has approved a 1-for-35 reverse stock split of the Company's common stock. The common stock will open for trading on the New York Stock Exchange ("NYSE") on Thursday, June 13, 2024, on a split-adjusted basis under the current trading symbol "VLD". In connection with the reverse stock split, the CUSIP numbers for the Company's common stock will change to 92259N 203. The reverse stock split is intended to enable Velo3D to regain compliance with the minimum share price required for continued listing on NYSE. The reverse stock split was approved by Velo3D's stockholders on June 10, 2024, with the final ratio determined by the Company's board of directors on June 10, 2024.
The Company will file an amendment to its certificate of incorporation with the Secretary of State of Delaware on June 12, 2024. The reverse stock split will not reduce the number of authorized shares of the Company's common stock, which will remain at 500,000,000, and will not change the par value of the common stock, which will remain at $0.00001 per share.
The 1-for-35 reverse stock split will automatically convert 35 current shares of Velo3D's common stock into one new share of common stock. Fractional shares will not be issued in connection with the reverse stock split. Each stockholder who would otherwise hold a fractional share of common stock as a result of the reverse stock split will receive one share of common stock in lieu of such fractional share. The reverse split will reduce the number of shares of outstanding common stock from approximately 297,064,857 shares to approximately 8,487,567 shares. Proportional adjustments also will be made to the exercise prices of Velo3D's outstanding stock options and warrants, and to the number of shares issued and issuable under Velo3D's outstanding equity-based awards.
Continental Stock Transfer & Trust Company ("Continental") will act as the transfer agent for the reverse stock split. Stockholders holding their shares electronically in book-entry form are not required to take any action to receive post-split shares. Stockholders owning shares through a bank, broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to brokers' particular processes, and will not be required to take any action in connection with the reverse stock split.
Additional information concerning the reverse stock split can be found in the Company's definitive proxy statement on Schedule 14A filed with the SEC on April 29, 2024.
About Velo3D:
Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.
Velo3D has overcome these limitations so engineers can design and print the parts they want. The company's solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy, and semiconductor to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The fully integrated solution includes the Flow print preparation software, the Sapphire family of printers, and the Assure quality control system—all of which are powered by Velo3D's Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research. Velo3D has been named as one of Fast Company's Most Innovative Companies for 2023. For more information, please visit Velo3D.com, or follow the company on LinkedIn or Twitter.
Forward-Looking Statements:
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements concerning expectations regarding the effect of the reverse stock split including its impact on the stock price and continued listing on the NYSE. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. You should carefully consider the risks and uncertainties described in the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (the "SEC") on April 3, 2024, and other documents filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations.
Velo, Velo3D, Sapphire, and Intelligent Fusion, are registered trademarks of Velo3D, Inc. Without Compromise, Flow and Assure, are trademarks of Velo3D, Inc.
All Rights Reserved Velo3D, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240610095022/en/
Media Contact:
Dan Sorensen, Senior Director of Public Relations
press@velo3d.com
Investor Relations:
Bob Okunski, VP Investor Relations
investors@velo3d.com
Source: Velo3D
Released June 11, 2024
加利福尼亞州坎貝爾市--(BUSINESS WIRE)--Velo3D，Inc. (紐交所:VLD)，領先的金屬增材製造技術公司，爲關鍵任務部件提供服務，今天宣佈其董事會已經批准了公司的普通股進行1：35的逆向股份拆分。普通股將在2024年6月13日星期四在紐約證券交易所(NYSE)以調整後的價格開盤交易，交易代碼仍然爲“VLD”。根據逆向股票拆分，公司普通股的CUSIP號碼將變更爲92259N 203。逆向拆分旨在使Velo3D恢復符合紐交所繼續上市所需的最低股價要求。逆向拆分於2024年6月10日獲得了Velo3D的股東批准，最終比例於2024年6月10日由公司的董事會確定。
公司將於2024年6月12日向特拉華州州務卿提交其修改後的公司章程修改文件。逆向股票拆分不會減少公司普通股的授權股份，該股份將保持在5億股的水平，也不會改變普通股的票面價值，票面價值將保持在每股0.00001美元的水平。
一股逆向拆分將自動轉換35股當下的Velo3D普通股爲1股新的普通股。逆向拆分不會發行任何碎股。每個持有任何碎股的股東都將獲得一股普通股來代替碎股。逆向拆分將會將公司的普通股的現有股數從大約2.97064857億股減少到大約848.7567萬股。每個持股人的Velo3D存量股票認購權和權證的行權價，以及Velo3D的存量和可發行獎勵性股權的股數也將按比例進行調整。
大陸股份轉讓信託公司(“大陸”)將成爲逆向股票拆分的轉股代理。以證券帳户電子簿方式持有股票的股東無需採取任何行動即可獲得後拆分股份。以銀行，經紀商或其他代表名義持有股份的股東將自動調整其持倉以反映逆向股票拆分，但需遵循經紀商的特定流程，而不需要採取任何與逆向股票拆分相關的行動。
有關逆向股票拆分的其他信息可在公司於2024年4月29日向證券交易委員會(SEC)提交的確定性代理聲明書的第14A表格中找到。
關於Velo3D:
Velo3D是一家金屬3D打印技術公司。3D打印（也稱爲添加製造（AM））具有改善高價值金屬零件組裝方式的獨特能力。但是，自從幾乎30年前發明以來，傳統的金屬AM在其能力方面嚴重受限。這阻止了這項技術用於創建最有價值和最具衝擊力的零部件，使其受到限制，只能用於特定領域的特定細分市場。
Velo3D已經克服了這些限制，以使工程師能夠設計和打印他們想要的零件。該公司的解決方案釋放了廣泛的設計自由，並使太空探索、航空、發電、能源和半導體行業的客戶在各自的行業裏面創新未來。使用Velo3D，這些客戶現在可以製造以前無法制造的關鍵任務金屬零件。這完全集成的解決方案包括Flow打印準備軟件，Sapphire家族的打印機和Assure質量控制系統，所有這些都由Velo3D的Intelligent Fusion製造過程驅動。該公司於2018年交付了其第一臺Sapphire系統，並已成爲innovators如spaceX，霍尼韋爾，本田，Chromalloy和Lam Research的戰略合作伙伴。Velo3D被評爲快公司2023最具創新性的公司之一。有關更多信息，請訪問Velo3D.com，或關注公司的LinkedIn: Fast Company的最具創新性的公司之一。Velo3D.com，或在LinkedIn上關注公司: LinkedIn或。推特.
前瞻性聲明：
本新聞稿包含某些預測性陳述，根據聯邦證券法，在其中就關於逆向股票拆分的預期效果（包括其對股價和在紐交所的持續上市的影響）等問題發表了陳述。這些預測性陳述一般是通過“believe”，“project，”“expect，”“anticipate，”“estimate” “intend，”“strategy，”“future，” “opportunity，”“plan，”“may，”“should，”“will，” “would，“會”，“將會”，“將繼續”，“很可能產生”的類似表述來識別。預測性陳述是關於未來事件的預測、投射和其他陳述，這些預測、投射和其他陳述是基於當前的預期和假設，並且因此存在風險和不確定性。許多因素可能導致實際未來事件與本新聞稿中的預測性陳述不同。您應該認真考慮我們於2023年12月31日結束的財政年度的Form 10-K報告中的“風險因素”部分所描述的風險和不確定性，並且在我們不時向SEC提交的其他文件中進行類似的考慮。這些提交確定並處理了其他重要的風險和不確定性，這些風險和不確定性可能導致實際事件和結果與預測性陳述中所包含的事件和結果實質上不同。預測性陳述僅在其發表之日起發生。讀者應當謹慎將重大依賴於預測性陳述，並且我們不承擔任何義務，並且不打算更新或修訂這些預測性陳述，無論是基於新信息、未來事件還是其他原因。我們不提供任何保證我們將實現我們的期望。
Velo、Velo3D、Sapphire和Intelligent Fusion是Velo3D，Inc.的註冊商標。Without Compromise、Flow和Assure是Velo3D，Inc.的商標。
版權所有 Velo3D，Inc.
請查看商業線(businesswire.com)的源版本。https://www.businesswire.com/news/home/20240610095022/en/
媒體聯繫人：
公共關係高級董事Dan Sorensen
press@velo3d.com
投資者關係：
投資者關係副總裁Bob Okunski
investors@velo3d.com
來源：Velo3D
2024年6月11日發佈
