U.S. steel 3D printer producer Velo3D has introduced a brand new public providing, in addition to its uplisting to the Nasdaq inventory change.
Based mostly in Fremont, California, the corporate is providing 5,833,333 shares of its widespread inventory at $3.00 every. This sale is anticipated to boost roughly $17.5 million earlier than charges and bills are deducted. Velo3D will use the proceeds from this sale to fund working capital, capital expenditures, and normal company bills.
The additive manufacturing OEM additionally introduced that it’ll start buying and selling on the Nasdaq inventory change on August 19, 2025. The corporate will commerce below the ticker image “VELO,” transferring up from the over-the-counter (OTCQX) market, the place it beforehand used the ticker “VLDX.”
Earlier than becoming a member of the OTCQX, Velo3D traded on the New York Inventory Change (NYSE) till September 2024, when it was delisted for failing to satisfy its continued itemizing requirements.
Minneapolis-based Lake Road Capital Markets, LLC, is the only bookrunner on Velo3D’s new providing. The sale is anticipated to formally shut on August 20, 2025, topic to customary closing situations. Velo3D has additionally given underwriters the choice to purchase as much as an extra 875,000 shares inside 30 days if demand is excessive.
Velo3D declares a brand new $17.5M public providing and joins the Nasdaq
Forward of its Nasdaq uplisting, Velo3D’s “VLDX” widespread inventory stopped buying and selling on the OTCQX at market shut on August 18. The corporate stated in an official press launch that present shareholders don’t must take any motion in response to the modifications.
The U.S. Securities and Change Fee (SEC) authorised Velo3D’s Kind S-1 registration assertion (File No. 333-289337) for its share sale on August 18. The shares are being bought completely by a prospectus included within the registration, which is offered totally free on the SEC’s web site or from Lake Road Capital Markets.
Velo3D’s resolution to launch a brand new public providing and be a part of the Nasdaq follows a interval of economic uncertainty. Over latest years, the corporate’s 3D printer gross sales have didn’t maintain a wholesome money stream. All through 2024, the agency’s income skilled YoY income declines in every quarter. FY 2024 income got here to $41.0M, a 47.1% YoY lower from $77.4M in FY 2023. That very same 12 months, Velo3D posted an working lack of -$82.3M.
In the meantime, amid dipping Velo3D inventory costs, the corporate acquired two NYSE noncompliance notices in as a few years. In September 2024, the corporate was delisted after its common international market capitalization fell beneath the NYSE’s $15 million continued itemizing threshold over a 30-trading-day interval.
Following these challenges, Velo3D underwent a strategic overview, leading to Arrayed Notes Acquisition Corp. buying 95% of the corporate’s excellent widespread shares. Arun Jeldi, CEO of Arrayed Additive, changed Brad Kreger as Velo3D’s CEO. Concurrently, six present board members resigned as the corporate transitioned below Arrayed Additive’s possession.
As a part of this transition, Jeldi outlined a revised strategic course, charting a clearer path to profitability. Notably, the brand new CEO has moved the corporate past a reliance on machine gross sales. By means of its new Fast Manufacturing Companies (RPS), Velo3D now provides contract manufacturing companies that provide scalable steel additive manufacturing capabilities for industrial clients.
In an interview with 3D Printing Trade, Arun Jeldi described the modifications as a shift towards “actual technique and monetary stability.” He stated the brand new strategy noticed sturdy demand, with orders doubling within the first 90 days. Since then, Velo3D has signed a $22 million unique deal with Australian steel AM specialist Amaero, together with protection partnerships with Ohio Ordnance Works and the U.S. Naval Air Techniques Command.
AM corporations goal public choices
Public choices stay a well-liked method for additive manufacturing corporations to boost capital. Earlier this 12 months, Australian rapid-welding know-how firm Okay-Tig introduced a public providing to boost between $7 million and $10 million.
The corporate initiated the sale, which was not underwritten, to assist fund its acquisition of U.S.-based steel powder manufacturing agency Steel Powder Works (MPW). This deal altered Okay-Tig’s enterprise scope, which means shareholder approval was wanted below ASX Itemizing Rule 11.1.2. The corporate was additionally required to adjust to ASX Itemizing Chapters 1 and 2 earlier than the transaction could possibly be accomplished.
Elsewhere, California-based medtech firm Carlsmed Inc. not too long ago finalized its preliminary public providing (IPO), efficiently elevating $100.5 million in gross proceeds. The corporate plans to make use of this capital to help industrial scale-up, industrial growth, and the expansion of its aprevo 3D printing platform for customized backbone surgical procedure.
Carlsmed commenced buying and selling on the Nasdaq on July 23 as the corporate priced 6.7 million shares of widespread inventory at $15.00 per share below the ticker image “CARL.” Underwriters had been granted a 30-day choice to buy as much as an extra 1,005,000 shares on the identical value. BofA Securities, Goldman Sachs & Co. LLC, and Piper Sandler led the providing as joint book-running managers. Truist Securities and BTIG served as joint book-runners.
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Featured picture reveals a component 3D printed utilizing Velo3D’s Sapphire know-how on show at RAPID + TCT 2025. Picture by 3D Printing Trade.
