SCHEDULE: AIGH Capital Management Divests Entire Velo3D Stake

AIGH Capital Management and Orin Hirschman have reported a complete divestment of their beneficial ownership in Velo3D, Inc., reducing their stake to 0%.

Summary

• AIGH Capital Management LLC, AIGH Investment Partners, L.L.C., and Orin Hirschman (collectively, the "Reporting Persons") have filed an Amendment No. 1 to Schedule 13G.
• The filing indicates that the Reporting Persons no longer beneficially own any shares of Velo3D, Inc. common stock.
• Their aggregate beneficial ownership is now 0 shares, representing 0% of the class.
• The event requiring this filing occurred on October 10, 2025.

Sentiment

Score: 3

Explanation: The complete divestment by an institutional investor is generally a negative signal, indicating a lack of confidence or a strategic exit, which could put downward pressure on the stock price.

Negatives

• AIGH Capital Management and related entities have divested their entire beneficial ownership in Velo3D, Inc.
• The Reporting Persons now hold 0% of the common stock, indicating a complete exit from their investment.

Future Outlook

This filing does not contain any forward-looking statements or guidance from Velo3D, Inc. or the reporting persons regarding the company's future performance.

Industry Context

This filing reflects a specific institutional investor's decision to fully divest its stake in Velo3D, Inc. While not directly indicative of broader industry trends, such a significant exit by an institutional player could be interpreted by the market as a signal regarding the company's individual prospects within the additive manufacturing sector.

Stakeholder Impact

• Shareholders: May view the complete divestment by an institutional investor as a negative signal, potentially leading to decreased investor confidence and downward pressure on the stock price.
• Company Management: May need to address investor concerns regarding the reasons for the institutional exit.

Key Dates

Recommendation

The complete divestment by a significant institutional investor like AIGH Capital Management, reducing their stake to 0%, is a strong negative signal. It suggests a lack of confidence in the company's future prospects or a strategic decision to exit the investment entirely. This action could trigger further selling pressure and indicates a deteriorating investment thesis from a sophisticated market participant.

Keywords

Velo3D, AIGH Capital Management, Orin Hirschman, Schedule 13G, beneficial ownership, divestment, common stock, institutional investor, 3D printing