Velo3D receives continued listing standards notice from NYSE

Velo3D announced that on July 8, 2024 it received notice from the New York Stock Exchange that it is not in compliance with Section 802.01B of the NYSE Listed Company Manual because its average total market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its stockholders’ equity was less than $50 million. As of July 5, 2024, the company’s 30 trading-day average market capitalization was approximately $36.6 million and its last reported stockholders’ deficit, as of March 31, 2024, was approximately ($45.5) million. In accordance with NYSE procedures, within 45 days from receipt of the notice, the company intends to submit a plan to the NYSE advising it of the definitive action(s) the company has taken, is taking, or plans to take to regain compliance with the continued listing standards. If the NYSE accepts the company’s plan, the company’s common stock will continue to be listed and traded on the NYSE during the 18-month cure period, subject to the company’s compliance with other NYSE continued listing standards and continued periodic review by the NYSE of the company’s progress with respect to its plan.