Velo3D Debuts On The New York Stock Exchange Under “VLD” Ticker After Merger With JAWS Spitfire Acquisition Corporation

Merger provides Velo3D with $274 million in capital to accelerate adoption of company’s additive manufacturing technology

NEW YORK, September 30, 2021–(BUSINESS WIRE)–Velo3D, Inc. (the “Company” or “Velo3D”) (NYSE: VLD), a leading additive manufacturing technology company for mission-critical metal parts, announced that shares of its common stock are trading on the New York Stock Exchange under the ticker symbol ” VLD” after the merger with JAWS Spitfire Acquisition Corporation (“JAWS Spitfire”). The combined company will now operate as Velo3D and will be led by CEO and founder Benny Buller. The merger will provide Velo3D with a total of $274 million in capital to fuel the company’s next phase of growth.

“Becoming a publicly traded company is an important milestone for Velo3D, but this is just a means to help us achieve what our team wants to achieve,” said Benny Buller, CEO and founder of Velo3D. “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 boundaries of additive manufacturing technology so that our customers can innovate without compromise. Velo3D team to make this happen make it all possible.”

Since production started in the fourth quarter of 2018, Velo3Ds sales have grown from $2 million in 2018 to $19 million in 2020. The company’s Sapphire ^{The XC system, which will ship in the fourth quarter of 2021, has a backlog of orders and pre-orders of more than $80 million.}

Velo3D’s end-to-end additive manufacturing solutions are used by some of the most innovative companies in the world, including: SpaceX, honeywell, Boom Supersonic, chromalloy, and Lamb Research. These customers are using Velo3Ds technology to transform their manufacturing processes by reducing complex products into individual parts with better performance and less overall weight. Mission-critical parts can also be produced at a fraction of the time and cost of legacy manufacturing approaches.

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Velo3D will ring the closing bell on the New York Stock Exchange on October 7, 2021 at 4 p.m. ET to celebrate its debut as a publicly traded company. A live stream of the event will be broadcast live on NYSE’s website. Photos and video of the bell ringing will be available via NYSE’s YouTube and Facebook pages and Twitter @NYSE and @VELO3DMetal.

About Velo3D:

Velo3D is a metal 3D printing technology company. 3D printing, also known as additive manufacturing (AM), has a unique ability to improve the way high-quality metal parts are made. However, the capabilities of legacy metal AM have been severely limited since its invention nearly 30 years ago. This prevented the technology from being used to create the most valuable and impactful parts, limiting its use to specific niches where the limitations were acceptable.

Velo3D has overcome these limitations, allowing engineers to design and print the parts they want. The company’s solution unlocks a wide range of design freedom and enables customers in space exploration, aerospace, power generation, power and semiconductors to innovate the future in their respective industries. With Velo3D, these customers can now build mission-critical metal parts that were previously impossible to manufacture. The end-to-end solution includes the Flow print preparation software, the Sapphire ^{family of printers and the Assure quality control system, all of which are powered by Velo3D’s Intelligent Fusion manufacturing process. The company delivered its first Sapphire system in 2018 and has been a strategic partner to innovators such as SpaceX, Honeywell, Honda, Chromalloy and Lam Research. Velo3D is named to Fast Company’s prestigious annual list of: the most innovative companies in the world for 2021. For more information, visit https://www.velo3d.com, or follow the company LinkedIn or Twitter.}

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company’s actual results may differ from its expectations, estimates and projections and therefore you should not rely on these forward-looking statements as predictions of future events. Words like “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “plan,” “plan,” “may,” “will,” “could,” ” should”, “believes”, “predicts”, “potential”, “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance and anticipated financial consequences of the transaction and the Company’s other expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the final proxy statement/prospectus relating to the business combination (the “Proxy Statement/Prospectus”), filed with the SEC on September 8 by JAWS Spitfire , 2021 and the other documents filed with the SEC by the combined company from time to time. These filings identify and address other significant risks and uncertainties that could cause actual events and results to differ materially from those in the forward-looking statements. Most of these factors are beyond the company’s control and difficult to predict. Factors that could cause such differences include, but are not limited to: (1) the outcome of any legal action that may be brought against the combined company after the announcement of the transaction; (2) the risk that the transaction will disrupt current plans and operations as a result of the announcement and completion of the transaction; (3) the inability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition, the combined company’s ability to grow and profitably manage growth, maintain relationships with customers and suppliers and its key retain employees ; (4) costs associated with the transaction; (5) changes in applicable law or regulation; (6) the possibility that the combined business will be adversely affected by other economic, business and/or competitive factors; (7) the impact of the global COVID-19 pandemic; and (8) other risks and uncertainties identified from time to time in the Proxy Statement/Prospectus, including those under “Risk Factors” therein, and in the Company’s combined other filings with the SEC. The company cautions that the foregoing list of factors is not exclusive and not to place undue reliance on forward-looking statements, including projections, that speak only as of the date made. The company does not assume or assume any obligation to release updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which such statement is based.

Check out the source version at businesswire.com: https://www.businesswire.com/news/home/20210930005163/en/

Contacts

Investor Relations:
Bob Okunski, VP Investor Relations
[email protected]

Media contacts:
Velo3D
Dan Sörensen
[email protected]

JAWS Spitfire Acquisition Corporation:
Abernathy MacGregor
Tom Johnson / Dan Scorpio
[email protected] / [email protected]
(212) 371-5999 / (646) 899-8118