Velo3D Debuts on the New York Stock Exchange Under “VLD” Ticker Following Merger with JAWS Spitfire Acquisition Corporation
Merger Provides Velo3D with $274 Million in Capital to Accelerate Adoption of the Company’s Additive Manufacturing Technology
Velo3D, Inc. (the “Company” or “Velo3D”) (NYSE: VLD), a leading additive manufacturing technology company for mission-critical metal parts, has announced shares of its common stock have begun trading on the New York Stock Exchange under the ticker symbol “VLD” following its merger with JAWS Spitfire Acquisition Corporation (“JAWS Spitfire”).
The combined company will now operate as Velo3D and will be led by CEO and Founder Benny Buller. The merger provides Velo3D with a total of $274 million in capital to fuel the company’s next stage of growth.
“Becoming a public company is a significant milestone for Velo3D, however, this is merely a means to help us with what our team aims to accomplish,” said Benny Buller, CEO and Founder at Velo3D. “Velo3D’s end-to-end additive manufacturing solution is redefining what’s possible for the production of mission-critical metal parts. We will continue to push the limits of additive manufacturing technology so our customers can innovate without compromise. I would like to thank the entire Velo3D team for making all of this possible.”
Since its production launch in the fourth quarter of 2018, Velo3D’s revenue grew from $2 million in 2018 to $19 million in 2020. The company’s Sapphire® XC system, which will begin shipping in Q4 2021, has a backlog of orders and pre-orders exceeding $80 million.
Velo3D’s end-to-end additive manufacturing solutions are utilized by some of the most innovative companies in the world, including SpaceX, Honeywell, Boom Supersonic, Chromalloy, and Lam Research. These customers use Velo3D’s technology to transform their manufacturing processes by reducing complex products down to single parts with better performance and less overall weight. Mission-critical parts can also be produced at a fraction of the time and cost of legacy manufacturing approaches.
Velo3D will be ringing the closing bell at the New York Stock Exchange on October 7, 2021, at 4:00 PM ET to celebrate its debut as a publicly-traded company.
www.velo3d.com
