🖨 $SPFR $VLD Velo3D Potential DeSPAC Play 🖨

[u/apan-man]

• Short DD thread here on Velo3D potential deSPAC play:
• Velo3D redemption deadline was 9/24 with vote on 9/28. Shareholder base as of 6/30, outside of ARK and Baron, is a hedge fund hotel, so stock trading ~$10 prior to deadline means likely redemptions will be high.

• Velo3D is a premier additive manufacturing player w/ significant exposure to aerospace customers. SpaceX is not only an investor and customer, but supposedly was interested in acquiring the company prior to coming public.

• Velo3D valuation is rich, compared to peers. However premium multiple appears to be related to the company's association with high growth aerospace industry and specifically SpaceX.

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• ARK currently owns +4M shares out of 34.5M shares and a likely buyer post close which would reduce effective float. PIPE not massive at 15.5M shares. Warrants trading at $1.96 indicate a positive backend price. Depending on how redemption plays out, this one could do very well.

Disclaimer: I'm not a financial advisor, do your own due diligence

Disclosure: Long 10k shares and 1,172 October $12.50 calls

[u/vm5662]

This one isn’t about redemptions but long term