Velo3D, Inc. ( NYSE VLD), a leading essence cumulative manufacturing technology company for charge-critical corridor, moment blazoned it was notified on December 28, 2023, by the New York Stock Exchange( “ NYSE ”) that the Company isn’t in compliance with Rule802.01 C of the NYSE’s Listed Company Manual( “ Rule802.01 C ”) relating to the minimal average ending price of the Company’s common stock needed over a successive 30 trading- day period. The notice doesn’t affect the immediate delisting of the Company’s common stock from the NYSE. The Company intends to notify the NYSE within 10 business days of its intent to recapture compliance with Rule 802.01 C.
The Company can recapture compliance at any time within the six-month cure period if, on the last trading day of any timetable month during the cure period, the common stock has an ending share price of at least$1.00 and an average ending share price of at least$1.00 over the 30 trading- day period ending on the last trading day of that month. The Company completely intends to remain listed on the NYSE, and will consider the stylish available druthers
including, but not limited to, a rear stock split, subject to stockholder blessing, if necessary to recapture compliance. The Company’s common stock will continue to be listed on the NYSE during the six-month cure period, subject to the Company’s compliance with other NYSE continued listing conditions.
About Velo3D:
Velo3D is a metal 3D printing technology company. 3D printing—also known as additive manufacturing (AM)—has a unique ability to improve the way high-value metal parts are built. However, legacy metal AM has been greatly limited in its capabilities since its invention almost 30 years ago. This has prevented the technology from being used to create the most valuable and impactful parts, restricting its use to specific niches where the limitations were acceptable.
Velo3D has overcome these limitations so engineers can design and print the parts they want. The company’s solution unlocks a wide breadth of design freedom and enables customers in space exploration, aviation, power generation, energy, and semiconductors to innovate the future in their respective industries. Using Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The fully integrated solution includes the Flow print preparation software, the Sapphire family of printers, and the Assure quality control system—all of which are powered by Velo3D’s Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy, and Lam Research.
