U.S. metal 3D printer manufacturer Velo3D has announced a new public offering, as well as its uplisting to the Nasdaq stock exchange.
Based in Fremont, California, the company is offering 5,833,333 shares of its common stock at $3.00 each. This sale is expected to raise approximately $17.5 million before fees and expenses are deducted. Velo3D will use the proceeds from this sale to fund working capital, capital expenditures, and general corporate expenses.
The additive manufacturing OEM also announced that it will begin trading on the Nasdaq stock exchange on August 19, 2025. The company will trade under the ticker symbol “VELO,” moving up from the over-the-counter (OTCQX) market, where it previously used the ticker “VLDX.”
Before joining the OTCQX, Velo3D traded on the New York Stock Exchange (NYSE) until September 2024, when it was delisted for failing to meet its continued listing standards.
Minneapolis-based Lake Street Capital Markets, LLC, is the sole bookrunner on Velo3D’s new offering. The sale is expected to officially close on August 20, 2025, subject to customary closing conditions. Velo3D has also given underwriters the option to buy up to an additional 875,000 shares within 30 days if demand is high.
Velo3D announces a new $17.5M public offering and joins the Nasdaq
Ahead of its Nasdaq uplisting, Velo3D’s “VLDX” common stock stopped trading on the OTCQX at market close on August 18. The company said in an official press release that existing shareholders do not need to take any action in response to the changes.
The U.S. Securities and Exchange Commission (SEC) approved Velo3D’s Form S-1 registration statement (File No. 333-289337) for its share sale on August 18. The shares are being sold exclusively through a prospectus included in the registration, which is available for free on the SEC’s website or from Lake Street Capital Markets.
Velo3D’s decision to launch a new public offering and join the Nasdaq follows a period of financial uncertainty. Over recent years, the company’s 3D printer sales have failed to sustain a healthy cash stream. Throughout 2024, the firm’s revenue experienced YoY revenue declines in each quarter. FY 2024 revenue came to $41.0M, a 47.1% YoY decrease from $77.4M in FY 2023. That same year, Velo3D posted an operating loss of -$82.3M.
Meanwhile, amid dipping Velo3D stock prices, the company received two NYSE noncompliance notices in as many years. In September 2024, the company was delisted after its average global market capitalization fell below the NYSE’s $15 million continued listing threshold over a 30-trading-day period.
Following these challenges, Velo3D underwent a strategic review, resulting in Arrayed Notes Acquisition Corp. acquiring 95% of the company’s outstanding common shares. Arun Jeldi, CEO of Arrayed Additive, replaced Brad Kreger as Velo3D’s CEO. Simultaneously, six existing board members resigned as the company transitioned under Arrayed Additive’s ownership.
As part of this transition, Jeldi outlined a revised strategic direction, charting a clearer path to profitability. Notably, the new CEO has moved the company beyond a reliance on machine sales. Through its new Rapid Production Services (RPS), Velo3D now offers contract manufacturing services that offer scalable metal additive manufacturing capabilities for industrial customers.
In an interview with 3D Printing Industry, Arun Jeldi described the changes as a shift toward “real strategy and financial stability.” He said the new approach saw strong demand, with orders doubling in the first 90 days. Since then, Velo3D has signed a $22 million exclusive deal with Australian metal AM specialist Amaero, along with defense partnerships with Ohio Ordnance Works and the U.S. Naval Air Systems Command.
AM companies target public offerings
Public offerings remain a popular way for additive manufacturing companies to raise capital. Earlier this year, Australian rapid-welding technology company K-Tig announced a public offering to raise between $7 million and $10 million.
The company initiated the sale, which was not underwritten, to help fund its acquisition of U.S.-based metal powder production firm Metal Powder Works (MPW). This deal altered K-Tig’s business scope, meaning shareholder approval was needed under ASX Listing Rule 11.1.2. The company was also required to comply with ASX Listing Chapters 1 and 2 before the transaction could be completed.
Elsewhere, California-based medtech company Carlsmed Inc. recently finalized its initial public offering (IPO), successfully raising $100.5 million in gross proceeds. The company plans to use this capital to support commercial scale-up, commercial expansion, and the growth of its aprevo 3D printing platform for personalized spine surgery.
Carlsmed commenced trading on the Nasdaq on July 23 as the company priced 6.7 million shares of common stock at $15.00 per share under the ticker symbol “CARL.” Underwriters were granted a 30-day option to purchase up to an additional 1,005,000 shares at the same price. BofA Securities, Goldman Sachs & Co. LLC, and Piper Sandler led the offering as joint book-running managers. Truist Securities and BTIG served as joint book-runners.
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Featured image shows a part 3D printed using Velo3D’s Sapphire technology on display at RAPID + TCT 2025. Photo by 3D Printing Industry.
