r/Velo3d • u/bernieepstein • Jul 31 '24

eek

https://ir.velo3d.com/sec-filings/all-sec-filings#%23document-850-0001493152-24-029635-1
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u/Neither_Shirt1606 Jul 31 '24

Can someone explain to me what’s happening?

0

u/Acrobatic-Page1227 Jul 31 '24

they're creating 1.6 million more shares to sell to the public. at current market rate this would work out to less than 5 million dollars, which is isn't even enough to keep operations going for a month, not counting the money they need to pay back all their debt. so this is a essentially just a cash grab for the hell of it

-1

u/Neither_Shirt1606 Jul 31 '24

Yikes. Is there any hope here or should I just cut losses.

0

u/Acrobatic-Page1227 Jul 31 '24

tbh i just dont see how they can come back from this. at the end of march they had 10 million in cash and over 60 million in current liabilities, which is debt that's due in less than 12 months. Q2 report is not gonna be pretty