The announcement of a $70 million offering of senior secured convertible notes by Velo3D could potentially impact the company's stock price. Convertible notes are a type of bond that the holder can convert into a specified number of shares of common stock in the issuing company. This could lead to dilution of the existing shares, which might put downward pressure on the stock price. However, the actual impact will depend on the market's perception of the company's future prospects and the terms of the convertible notes.