Velo3D Completes Merger with JAWS Spitfire Acquisition Corporation to Become a Publicly Traded Additive Manufacturing Technology Company

Velo3D’s not unusual stock to begin buying and selling on the ny inventory alternate underneath the Ticker “VLD” on September 30, 2021

Transaction promises $274 Million to guide the Adoption of Velo3D’s cease-to-give up manufacturing answers

Velo3D to rejoice Milestone with the aid of Ringing the new york stock exchange remaining Bell on October 7, 2021

CAMPBELL, Calif.–(commercial enterprise cord)–Velo3D, Inc. (the “organization” or “Velo3D”), a main additive production technology organisation for task-vital metallic components, these days introduced it has completed its merger with JAWS Spitfire Acquisition organization (“JAWS Spitfire”) (NYSE: SPFR), a special purpose acquisition organisation, to turn out to be publicly traded. The combined business enterprise will retain the name Velo3D and its commonplace inventory will start trading at the new york stock change under the ticker symbol “VLD” and its warrants under the image “VLD WS” on September 30, 2021.

The enterprise combination became accredited by using the board of directors of JAWS Spitfire and became also authorized at a special meeting of JAWS Spitfire’s shareholders on September 28, 2021. because of this transaction, the combined organization obtained approximately $274 million in total net proceeds, including $one hundred fifty five million in a non-public placement of common stock at a $10.00 in line with share cost.

technology of innovation via additive production. Our end-to-cease answer has the ability to convert industries and permit the creation of technology that were formerly concept impossible to build. We agree with we have a substantial opportunity beforehand of us and that the specific capabilities that we deliver to the market will drive fast adoption of our generation and our future increase.”

“whilst you examine the additive manufacturing industry, I accept as true with Velo3D is years beforehand of the competition and its proprietary era and wide set of patents will assist the agency maintain this lead properly into the future,” stated Barry Sternlicht, Chairman of JAWS Spitfire Acquisition. . We’re proud to be affiliated with Benny and the relaxation of the Velo3D crew.”

CEO Benny Buller and CFO invoice McCombe will preserve to steer the mixed organization via its next segment of growth as it maintains to redefine the high-price metal additive manufacturing marketplace.

on the grounds that its manufacturing launch in 2018, Velo3D has been used by some of the most revolutionary companies within the global, together with SpaceX, Honeywell, growth Supersonic, Chromalloy, and Lam studies.
This growth consists of the corporation’s deliberate expansion into Europe, so one can be a key marketplace in 2022.

finances can even guide the rollout of the brand new Velo3D Sapphire® XC printer to customers within the space, aviation, electricity, and defense industries, in addition to customers in new industries that can gain from printing large project-vital metallic components. the primary gadget is expected to be delivered in the fourth area of 2021 and may be able to produce elements which might be four hundred% large in extent and decrease production expenses via sixty five-85%, permitting Velo3D’s quit-to-end solution to service a much wider variety of applications. Sapphire® XC presently has more than $eighty million in backlog of pre-orders and bookings.

The $274 million in internet proceeds from this transaction are calculated as: $345 million from JAWS Spitfire cash in trust, $a hundred and fifty five million from private placement of common inventory, much less $182 million from redemptions, and $forty four million in transaction fees.

To have fun the merger, Velo3D might be ringing the ny inventory trade last bell at 4:00pm ET on October 7, 2021. The closing bell ceremony might be broadcast live on the new york inventory trade’s internet site.
Advisors:

BofA Securities served as distinct economic marketing consultant to Velo3D and Fenwick & West LLP served as prison suggest to Velo3D.

credit score Suisse Securities (united states of america) LLC served as capital markets and financial marketing consultant to JAWS Spitfire and as lead placement agent at the PIPE transaction.
BofA Securities served as a co-placement agent at the PIPE transaction. Skadden, Arps, Slate, Meagher & Flom LLP served as criminal guide to the location dealers on the PIPE.

about Velo3D:

Velo3D is a metallic 3D printing technology organisation. 3D printing—additionally called additive production (AM)—has a unique ability to improve the way high-value metallic parts are built. however, legacy metal AM has been greatly limited in its capabilities due to the fact that its invention nearly 30 years ago. This has prevented the generation from being used to create the maximum precious and impactful elements, limiting its use to specific niches wherein the constraints were applicable.

Velo3D has conquer those barriers so engineers can design and print the parts they need. The organization’s solution unlocks a huge breadth of layout freedom and permits customers in area exploration, aviation, strength generation, power and semiconductor to innovate the future of their respective industries. the use of Velo3D, those clients can now build undertaking-important metal elements that had been previously not possible to manufacture. The stop-to-stop answer consists of the drift™ print training software, the Sapphire® family of printers, and the guarantee™ excellent manage machine—all of which can be powered by way of Velo3D’s wise Fusion™ production method. The enterprise introduced its first Sapphire® device in 2018 and has been a strategic associate to innovators inclusive of SpaceX, Honeywell, Honda, Chromalloy, and Lam studies. Velo3D has been named to rapid company’s prestigious annual list of the sector’s most modern businesses for 2021. For more facts, please go to https://www.velo3d.com, or observe the organization on LinkedIn or Twitter.

approximately JAWS Spitfire Acquisition employer:

previous to the enterprise aggregate, JAWS Spitfire Acquisition enterprise, led by using Chairman Barry S. Sternlicht and chief government Officer Matthew Walters, turned into a blank take a look at corporation included as a Cayman Islands exempted corporation for the motive of effecting a merger, share change, asset acquisition, proportion purchase, reorganization or similar enterprise aggregate with one or greater corporations or entities.

ahead-looking Statements

The organization’s actual effects might also vary from its expectancies, estimates and projections and consequently, you need to now not depend upon those ahead-searching statements as predictions of future events. phrases consisting of “anticipate”, “estimate”, “venture”, “budget”, “forecast”, “assume”, “intend”, “plan”, “may additionally”, “will”, “ought to”, “ought to”, “believes”, “predicts”, “capacity”, “continue”, and similar expressions are meant to pick out such ahead-searching statements. those forward-looking statements consist of, with out problem, the corporation’s expectations with admire to destiny overall performance and expected economic affects of the transaction, the timing of the commencement of buying and selling of the combined organization’s securities, and the business enterprise’s other expectations, hopes, ideals, intentions or techniques for the destiny. these forward-searching statements contain extensive dangers and uncertainties that could cause the real effects to differ materially from the predicted outcomes. You need to cautiously take into account the risks and uncertainties defined in the “risk factors” phase of the definitive proxy assertion/prospectus referring to the enterprise aggregate (the “Proxy announcement/Prospectus”), which become filed via JAWS Spitfire with the SEC on September eight, 2021 and the alternative files filed via the combined company every so often with the SEC. these filings become aware of and cope with other essential dangers and uncertainties that could reason real occasions and effects to differ materially from those contained in the forward-looking statements. most of those factors are outside the company’s manage and are difficult to expect. elements that can reason such variations consist of, however aren’t confined to: (1) the outcome of any legal proceedings that can be instituted in opposition to the blended organization following the statement of the transaction; (2) the threat that the transaction disrupts modern plans and operations because of the declaration and consummation of the transaction; (three) the incapacity to.

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