EL7.AI
StocksMediumUpdated×3•Originally published 11 March 2026•Updated 11 March 2026•
1 min read

Velo3D CEO Converts $5M Debt to Equity, Slashing Total Debt by 60%

Key Facts

1Velo3D CEO Dr. Arun Jeldi acquired a $5 million promissory note and converted it into common stock.
2The conversion occurred at $16.38 per share, representing a significant premium over the current market price.
3The move resulted in the elimination of 60% of the company's total outstanding debt.

Velo3D, Inc. (Nasdaq: VELO) has announced a significant restructuring of its balance sheet following a strategic move by its leadership. Dr. Arun Jeldi, the company's CEO, acquired a $5 million promissory note and subsequently converted it into common stock. This conversion was executed at a price of $16.38 per share, representing a substantial premium over the current market valuation. As a result of this transaction, Velo3D has successfully eliminated approximately 60% of its total outstanding debt. The move is viewed as a strong vote of confidence from the CEO in the company's long-term growth prospects and intrinsic value. By drastically reducing its debt burden, the additive manufacturing firm significantly improves its financial stability and capital structure.