Velo3D Announces $30 Million Private Placement of Common Stock

Core Viewpoint - Velo3D, Inc. has announced a $30 million private investment in public equity (PIPE) transaction to support its growth in the space and defense sectors, highlighting the increasing demand for its advanced additive manufacturing technology [1][3]. Group 1: Investment Details - The PIPE transaction is led by a $20 million investment from a new fundamental institutional investor, with additional participation from a large existing institutional shareholder [1]. - The company will issue approximately 3.6 million shares of common stock at a price of $8.25 per share, totaling an aggregate purchase price of $30 million [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes and capital expenditures to meet the growing demand for Velo3D's offerings, particularly in Rapid Production Services (RPS) for the space and defense sectors [1]. Group 3: Company Overview - Velo3D specializes in metal 3D printing technology, which enhances the manufacturing of high-value metal parts, overcoming limitations of legacy additive manufacturing [5][6]. - The company's solutions enable customers in various industries, including space exploration and aviation, to innovate and produce mission-critical metal parts that were previously impossible to manufacture [6]. - Velo3D has established partnerships with notable companies such as SpaceX and Honeywell, and has been recognized as one of Fast Company's Most Innovative Companies for 2024 [6].