Velo3D, Inc.

Form Type: 8-K

Filing Date: 2024-12-12

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000149315224049664

Comments: On December 9, 2024, Velo3D, Inc. entered into a Forbearance Agreement with its wholly owned subsidiary and two consenting holders regarding the Company's Senior Secured Notes due 2026. The Company is experiencing defaults, including failures to make necessary redemption payments and interest payments since September 2024, and has not filed its Quarterly Report for the period ended September 30, 2024. The Forbearance Agreement restricts the Collateral Agent and the Consenting Holders from taking enforcement actions against the Company until December 16, 2024, unless specific conditions occur, including the filing of a chapter 7 bankruptcy proceeding. Additionally, the Company has released the holders of the Notes and the Collateral Agent from all claims arising before December 9, 2024. This development reflects Velo3D's critical financial situation and potential impending insolvency.

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