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In other news, Velo3D, Inc. (NYSE: VLD) recently announced a public offering of $12 million, resulting in a decline in the company’s stock price. The offering included 34.28 million shares of common stock and warrants to purchase an equivalent number of shares. Institutional investors, both new and existing, purchased these securities at a price of $0.35 per share, generating gross proceeds of approximately $12 million. The accompanying warrants are exercisable immediately at the same price and will expire in five years.
The offering is expected to close around April 12, 2024, subject to standard closing conditions. Velo3D intends to utilize the net proceeds for working capital, capital expenses, and to repay senior secured notes due in 2026. As of December 31, 2023, the company had $31 million in cash and investments. Interested investors can access VLD shares through ETFs such as 3D Printing (The) ETF (BATS: PRNT) and ARK Space Exploration & Innovation ETF (BATS: ARKX).
While there has been a recent decline in VLD stock price following the public offering announcement
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