Velo3D Announces Debt for Equity Exchange Transaction Significantly Delevers Balance Sheet Arrayed Notes Acquisition Corp to Become Majority Equity Holder of Velo3D
Velo3D, Inc. (OTCQX: VLDX) ("Velo3D" or the "Company"), the leader in scalable metal 3D printing technology for production manufacturing, today announced a debt for equity exchange where approximately $22.4 million or 81.7% in principal amount of its outstanding senior secured notes, plus approximately $369 thousand of accrued interest on such notes, held by Arrayed Notes Acquisition Corp. (the "Holder") will be cancelled in exchange for an issuance of 185,151,333 newly issued shares of the Comp