Summary by Moomoo AI
Velo3D, Inc. (VLD) has announced a reverse stock split that is scheduled to take effect before the market opens on June 13, 2024. The split will be conducted on a 1-for-35 basis, meaning that each VLD Common Share will be converted into approximately 0.028571 new Velo3D, Inc. Common Shares. Following the reverse split, the company's stock symbol will change from VLD to VLD1. The adjustment will result in fractional shares being rounded up to the nearest whole share. The new CUSIP number for Velo3D will be 92259N203. The contract adjustment for options will also take place on June 13, 2024, with the new deliverable per contract being 3 new Velo3D Common Shares. The pricing for the underlying VLD1 will be determined by multiplying the VLD price by 0.03.