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8-K: Current report

SEC ·  Sep 13, 2024 20:06

Summary by Moomoo AI

Velo3D has entered into an Intellectual Property License and Support Services Agreement with SpaceX on September 12, 2024, granting SpaceX a non-exclusive license to its additive manufacturing technologies. The agreement includes a $5M license fee payable in two equal tranches of $2.5M each, plus $3M for engineering and support services.As part of the arrangement, Velo3D obtained consent from its note holders, who collectively hold $28.4M in company notes. The consent requires Velo3D to use 50% of the fees received from SpaceX to redeem outstanding principal and accrued but unpaid interest under these notes.
Velo3D has entered into an Intellectual Property License and Support Services Agreement with SpaceX on September 12, 2024, granting SpaceX a non-exclusive license to its additive manufacturing technologies. The agreement includes a $5M license fee payable in two equal tranches of $2.5M each, plus $3M for engineering and support services.As part of the arrangement, Velo3D obtained consent from its note holders, who collectively hold $28.4M in company notes. The consent requires Velo3D to use 50% of the fees received from SpaceX to redeem outstanding principal and accrued but unpaid interest under these notes.
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