Velo3D Modifies Convertible Debt Terms for Share Conversion and Secures $11.5M Defense Contract
Velo3D, Inc. has announced adjustments to two convertible debt securities, allowing holders to convert unpaid interest into equity. The company, currently trading at $12.11, is significantly below its 52-week high of $23.84. Despite a 324% annual stock return, Velo3D remains unprofitable with a revenue of $49.16 million and a negative gross margin. The company also secured an $11.5 million contract with a U.S. defense firm for its production technologies and was chosen as a qualified additive manufacturing supplier for the U.S. Army.
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Velo3D, Inc. has modified two secured convertible debt securities, allowing holders to convert unpaid interest into Velo3D shares. The adjustments were disclosed in a press release and SEC filing. The company’s stock is currently at $12.11, below its 52-week high of $23.84.
Velo3D remains unprofitable with $49.16 million in revenue and a -1.83% gross margin. On March 4, 2026, modifications were made to a $5 million convertible note issued in January 2025, enabling conversions at a nominal value of $0.00001 per share.
Additionally, Velo3D secured an $11.5 million contract with a U.S. defense contractor to support a national security program and was selected as a qualified supplier for the U.S. Army’s Ground Vehicle Systems Center.
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