Velo3D Prices 34,285,715 Shares Offering At $0.35/Share For Gross Proceeds Of ~$12M
Portfolio Pulse from Benzinga Newsdesk
Velo3D, identified by the ticker symbol VLD, has announced the pricing of its share offering at $0.35 per share. The offering consists of 34,285,715 shares, aiming to raise approximately $12 million in gross proceeds. This move is part of the company's efforts to generate additional capital.
April 10, 2024 | 12:41 pm
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Velo3D's share offering at $0.35/share for 34,285,715 shares to raise ~$12M could indicate a need for capital but may dilute current shareholders' value.
The pricing of Velo3D's share offering at $0.35 per share to raise approximately $12 million suggests the company is seeking to bolster its capital. However, such a significant increase in the number of shares could lead to dilution of the value for existing shareholders, potentially causing a short-term negative impact on the stock price.
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