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Velo3D ( (VLDX) ) has provided an announcement.
Velo3D, Inc. has issued a Senior Secured Convertible Promissory Note worth $5,000,000 to Thieneman Properties, LLC, secured by the company’s accounts receivable and inventory. The Note, due on April 7, 2025, can be converted into common stock upon default, and Velo3D has agreed to a registration rights agreement for any issued stock. Additionally, Arun Jeldi has been appointed as CEO with a base salary of $425,000, and Bradley Kreger’s salary as COO has been approved at $400,000.
More about Velo3D
YTD Price Performance: 113.89%
Average Trading Volume: 84,383
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $14.82M
Learn more about VLDX stock on TipRanks’ Stock Analysis page.
