Business
Velo3D CEO Acquires and Converts Certain of the Company's Debt to Equity at $16.38 Per Share, a Significant Premium to Market Price; Company Eliminates 60% of Debt Outstanding in Total
Velo 3D, Inc. (Nasdaq: VELO) ("Velo3D" or the "Company"), a leader in additive manufacturing ("AM") technology known for transforming aerospace and defense supply chains through world-class metal AM, today announced that Dr. Arun Jeldi, the Company's Chief Executive Officer, acquired a $5 million promissory note from an existing debt holder and converted it into shares of common stock at $16.38 per share, a significant premium to the Company's current share price. Separately, an existing notehol
About this update from Velo3d, Inc.
[{"type":"text","content":"FREMONT, Calif., March 11, 2026 /PRNewswire/ -- Velo 3D, Inc. (Nasdaq: VELO) ("Velo3D" or the "Company"), a leader in additive manufacturing ("AM") technology known for transforming aerospace and defense supply chains through world-class metal AM, today announced that Dr. Arun Jeldi, the Company's Chief Executive Officer, acquired a $5 million promissory note from an existing debt holder and converted it into shares of common stock at $16.38 per share, a significant premium to the Company's current share price. Separately, an existing noteholder, Ken Thieneman, who is a director of the Company, also converted a $10 million promissory note at $10.50 per share, in accordance with the terms of the convertible note. In total, the Company's outstanding debt was reduced by 60% to approximately $10 million.","length":853,"tagName":"p"},{"type":"image","alt":"Velo3D Logo (PRNewsfoto/Velo3D, Inc.)","displaySize":"","headline":null,"caption":"Velo3D Logo (PRNewsfoto/Velo3D, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":65,"url":"https://media.zenfs.com/en/prnewswire.com/7920dc54fe7d3be6fb2863efb6411449"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/PCb6xp3WcXHxKKuOVsrnDA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTExNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/7920dc54fe7d3be6fb2863efb6411449","width":400,"height":65}},"href":"https://mma.prnewswire.com/media/2597185/Velo3D_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""My decision to acquire and convert this debt at a significant premium to market reflects my belief in the long-term value of Velo3D," said Dr. Arun Jeldi, CEO of Velo3D. "We have substantially deleveraged our balance sheet and are entering fiscal 2026 focused on scaling our platform and delivering results for shareholders."","length":346,"tagName":"p"},{"type":"text","content":"About Velo3D:","length":13,"tagName":"p"},{"type":"text","content":"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. The company's solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy, and semiconducto...