Velo3D Gets $274 Million through Merger, Debuts on New York Stock Exchange
On Sept. 29, Velo3D Inc. (Campbell, CA) announced that it had completed its merger with JAWS Spitfire Acquisition Corp., a special purpose acquisition company. On Sept. 30, Velo3D began trading on the New York Stock Exchange under the ticker symbol “VLD.”
Posted: October 25, 2021
The combined company will operate as Velo3D and will be led by Velo3D CEO and founder Benny Buller. The merger provided Velo3D with $274 million in capital for its next stage of growth.
“Becoming a public company is a significant milestone for Velo3D,” Buller said. “However, this is merely a means to help us with what our team aims to accomplish. 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.”
Velo3D revenue has grown 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.
Buller and CFO Bill McCombe will continue to lead the combined company through its next phase of growth.
Velo3D offers additive manufacturing systems.
