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Velo3D has completed its merger with JAWS Spitfire Acquisition Corporation, now trading on the NYSE under the symbol VLD, providing $274 million in capital for growth.
The merger positions Velo3D to redefine additive manufacturing for metal parts, leveraging a backlog of over $80 million in pre-orders for its Sapphire XC system. Velo3D’s technology is utilized by industry leaders such as SpaceX and Honeywell, enabling efficient production of mission-critical parts.
Velo3D will celebrate its public debut by ringing the NYSE closing bell on October 7, 2021.
Velo3D has successfully completed its merger with JAWS Spitfire Acquisition Corporation and will commence trading on the New York Stock Exchange under the ticker VLD starting
JAWS Spitfire Acquisition Corporation (NYSE: SPFR) has announced an extraordinary general meeting on September 28, 2021, at 9:00 a.m. New York City Time, urging shareholders to attend via teleconference due to the COVID-19 pandemic. The meeting's primary agenda is to vote on proposals regarding the merger with Velo3D, Inc., under the Business Combination Agreement dated March 22, 2021. Shareholders can access the meeting online and submit questions beforehand. Additional details regarding the proxy statement/prospectus have been disseminated to shareholders.
Velo3D, Inc. has appointed two senior executives, Dr. Jose Greses as Managing Director and Xavier Fruh as Sales Director, to drive growth in Europe amidst rising demand for 3D-printed industrial parts. Dr. Greses, with extensive experience in laser welding and 3D-printing, and Fruh, skilled in the welding industry and business development, will help expand Velo3D's market presence. The company aims to provide innovative solutions in metal 3D printing, enhancing design freedom and part quality.
VELO3D has entered into a definitive business combination agreement with JAWS Spitfire Acquisition Corporation (NYSE: SPFR), set to enhance its position in additive manufacturing for high-value metal parts. The merger, expected to close in the second half of 2021, will value the combined entity at approximately $1.6 billion. VELO3D is recognized for its 3D metal printing technology, with clients including SpaceX and Honeywell. The company anticipates receiving up to $345 million from JAWS' cash trust, enabling substantial investment in engineering and product development.
