Velo3D Penned Securities Purchase Agreements With An Existing Lender And New Institutional Investors For The Purchase And Sale Of 36,000,000 Shares Of Common Stock And Warrants For Gross Proceeds Of Around $18M
Portfolio Pulse from Benzinga Newsdesk
Velo3D has entered into securities purchase agreements with an existing lender and new institutional investors for the sale of 36 million shares and warrants, aiming to raise approximately $18 million in gross proceeds.
December 28, 2023 | 12:56 pm
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Velo3D, Inc. (VLD) has secured agreements to sell 36 million shares and warrants, which is expected to generate $18 million in gross proceeds for the company.
The sale of shares and warrants is a direct equity action that will infuse Velo3D with fresh capital. This is likely to be viewed positively by investors as it provides the company with additional funds to support its operations and growth initiatives. However, the issuance of new shares could also lead to dilution of existing shareholders' equity, which is a factor to consider. The impact is scored as positive (1) due to the immediate benefit of capital inflow, with high relevance as the company is directly involved in the transaction. The importance is rated high (85) due to the significant amount of capital being raised, which is crucial for the company's financial health. The confidence level is at 90, reflecting a strong certainty in the analysis based on the information provided.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100