Velo3D, Inc. Files 8-K with Material Agreement

TL;DR

Velo3D signed a big deal, filing an 8-K with new financials.

AI Summary

On September 12, 2024, Velo3D, Inc. entered into a Material Definitive Agreement. The filing also includes financial statements and exhibits related to this agreement. The company, formerly known as JAWS Spitfire Acquisition Corp and Spitfire Acquisition Corp, is incorporated in Delaware.

Why It Matters

This 8-K filing indicates a significant new agreement for Velo3D, Inc., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent business risks.

Key Numbers

• 001-39757 — SEC File Number (Identifies the company's filing with the SEC.)
• 98-1556965 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Velo3D, Inc. (company) — Registrant
• September 12, 2024 (date) — Date of earliest event reported
• JAWS Spitfire Acquisition Corp (company) — Former company name
• Spitfire Acquisition Corp (company) — Former company name
• Delaware (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $5,000,000 — eed to pay the Company a license fee of $5,000,000 in the aggregate payable in two tranche
• $2,500,000 — payable in two tranches as follows: (a) $2,500,000 to be paid within three business days o
• $3,000,000 — Agreement, SPACEX will pay the Company $3,000,000 in the aggregate, which amount will be
• $28,416,667 — ny in the aggregate principal amount of $28,416,667 (the "Notes"). As required by the terms

Filing Documents

• vldx-20240912.htm (8-K) — 51KB
• vldx-ex10_1.htm (EX-10.1) — 117KB
• vldx-ex10_2.htm (EX-10.2) — 51KB
• 0000950170-24-106206.txt ( ) — 385KB
• vldx-20240912.xsd (EX-101.SCH) — 51KB
• vldx-20240912_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On September 12, 2024, Velo3D, Inc. (the "Company") entered into an Intellectual Property License and Support Services Agreement (the "Agreement") with Space Exploration Technologies Corp. ("SPACEX") granting SpaceX a non-exclusive license to the Company's additive manufacturing technologies. In consideration for the license, SPACEX has agreed to pay the Company a license fee of $5,000,000 in the aggregate payable in two tranches as follows: (a) $2,500,000 to be paid within three business days of the Company initiating delivery of the technologies; and (b) $2,500,000 to be paid within three business days following completion by the Company of delivery of the technologies. Further, for the provision of certain related engineering and other support services by the Company under the Agreement, SPACEX will pay the Company $3,000,000 in the aggregate, which amount will be invoiced by the Company in arrears, based on actual services provided to SPACEX. The Agreement is effective until terminated in accordance with its terms as provided in the Agreement. This summary of the Agreement is qualified in its entirety by reference to the full text of the Agreement, which is attached hereto as Exhibit 10.1 and incorporated by reference herein. In connection with its entry into the Agreement, the Company also entered into a Limited Consent with the note holders (collectively, the "Note Holders"). The Note Holders hold a series of notes of the Company in the aggregate principal amount of $28,416,667 (the "Notes"). As required by the terms of the Notes, under the Limited Consent, the Note Holders consented to the Company's entry into the Agreement upon the condition that the Company must utilize 50% of the fees received by the Company under the Agreement to redeem outstanding principal and accrued but unpaid interest under the Notes. This summary of the Limited Consent is qualified in its entirety by reference to the full te

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 License and Support Services Agreement, effective September 12, 2024, by and among Space Exploration Technologies Corp., Velo3D, Inc. and Velo3D US, Inc. 10.2 Limited Consent dated September 12, 2024 by and between Velo3D, Inc., Note Holders, and U.S. Bank Trust Company, National Association 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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 13, 2024 By: /s/ Bradley Kreger Name: Bradley Kreger Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR