Velo3D Faces Delisting Concerns

TL;DR

Velo3D might get kicked off the exchange, big trouble.

AI Summary

Velo3D, Inc. filed an 8-K on September 10, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company is also providing a Regulation FD disclosure and filing financial statements and exhibits. This filing indicates potential issues with Velo3D's compliance with stock exchange listing requirements.

Why It Matters

This filing suggests Velo3D may be at risk of being delisted from its stock exchange, which could significantly impact its stock price and investor confidence.

Risk Assessment

Risk Level: high — The filing explicitly states a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard,' indicating a significant risk to the company's public trading status.

Key Players & Entities

• Velo3D, Inc. (company) — Registrant
• September 10, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 2710 Lakeview Court, Fremont, California 94538 (address) — Principal executive offices
• (408) 610-3915 (phone_number) — Registrant's phone number

FAQ

Key Financial Figures

• $50 million — ive 30 trading-day period was less than $50 million and, at the same time, its stockholders
• $15 million — ver a 30-trading day period of at least $15 million. While the Company had submitted a pl

Filing Documents

• vld-20240910.htm (8-K) — 52KB
• vld-ex99_1.htm (EX-99.1) — 20KB
• 0000950170-24-105603.txt ( ) — 214KB
• vld-20240910.xsd (EX-101.SCH) — 51KB
• vld-20240910_htm.xml (XML) — 4KB

01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On September 10, 2024, Velo3D, Inc. (the "Company") received written notice (the "Notice") from the New York Stock Exchange (the "NYSE") that the NYSE had determined to commence proceedings to delist the Company's common stock and publicly traded warrants and that trading in such securities would be suspended immediately. As previously reported, the Company had received written notice from the NYSE on July 8, 2024 that the Company was no longer in compliance with the Section 802.01B of the NYSE Listed Company Manual due to the fact that the Company's average total market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its stockholders' equity was less than $50 million. As stated in the Notice, the NYSE reached its decision to delist the Company's securities pursuant to Section 802.01B of the NYSE Listed Company Manual because the Company had fallen below the NYSE continued listing standard requiring listed companies to maintain an average market capitalization over a 30-trading day period of at least $15 million. While the Company had submitted a plan to NYSE on August 22, 2024 to regain compliance with the NYSE continued listing requirements, as of the time of receipt of the Notice, the Company had not been advised of any determination of NYSE with respect to such plan. Following receipt of the Notice, however, the Company has determined to not take any further steps to maintain its NYSE listing.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On September 11, 2024, the Company issued a press release announcing the commencement of the trading of its common stock and warrants on the OTCQX Best Market. A copy of the press release is furnished herewith as Exhibit 99.1. The information set forth under this Item 7.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

01. Financial Statement and Exhibits

Item 9.01. Financial Statement and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release, dated September 11, 2024 * 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) *Furnished herewith.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Velo3D, Inc. Date: September 11, 2024 By: /s/ Bradley Kreger Name: Bradley Kreger Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR