Home Industry Velo3D announced a 1:35 reverse stock split

Velo3D announced a 1:35 reverse stock split

3D printer manufacturer Velo3D announced on June 11, 2024 that its Board of Directors has approved a 1-for-35 reverse stock split. This measure is intended to restore the company to the minimum requirements for continued trading on the New York Stock Exchange (NYSE).

The consolidation of the outstanding shares from currently approximately 297 million to approximately 8.5 million shares was approved by the shareholders on June 10. It became effective on June 13, at which time Velo3D shares will trade under the same ticker symbol VLD, but on a split-adjusted basis.

The 3D printing specialists from Fremont, California, are known for their “Intelligent Fusion” technology in metallic 3D printing. Its customers include companies such as SpaceX, Honeywell and Lam Research.

The reverse stock split will reduce the number of outstanding shares but leave their total value unchanged. The exercise prices for options and warrants will be adjusted accordingly. For investors who hold their Velo3D shares through brokers or nominees, the adjustment will be automatic.


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