SCHEDULE 13D/A: Bessemer Venture Partners Reduces Stake in Velo3D Below 5% Threshold

Bessemer Venture Partners and its affiliates have filed an amendment to their Schedule 13D, reporting that their beneficial ownership in Velo3D, Inc. has fallen below the 5% threshold as of December 24, 2024.

Summary

• Bessemer Venture Partners IX Institutional L.P., Bessemer Venture Partners IX L.P., Deer IX & Co. L.P., and Deer IX & Co. Ltd. (collectively, the "Reporting Persons") filed Amendment No. 1 to their Schedule 13D.
• The amendment states that as of December 24, 2024, each of the Reporting Persons ceased to be the beneficial owner of more than five percent of Velo3D, Inc.'s Common Stock.
• As of December 31, 2024, Bessemer Venture Partners IX Institutional L.P. held 481,201 shares, representing approximately 0.2% of the Issuer's Common Stock.
• As of December 31, 2024, Bessemer Venture Partners IX L.P. held 600,636 shares, representing approximately 0.3% of the Issuer's Common Stock.
• Deer IX & Co. L.P. and Deer IX & Co. Ltd. are deemed to have sole voting and dispositive power over the aggregate 1,081,837 shares owned by the BVP IX Funds, constituting approximately 0.5% of the Issuer's Common Stock as of December 31, 2024.
• The percentage of class was calculated based on 194,896,717 shares of Common Stock issued and outstanding as of January 9, 2025, as disclosed in Velo3D, Inc.'s Quarterly Report on Form 10-Q filed on January 14, 2025.
• The reported shares do not include 63,804 and 79,640 Earnout Shares that may be issued to BVP IX Inst and BVP IX, respectively, pursuant to the Business Combination Agreement.

Sentiment

Score: 4

Explanation: The filing indicates that Bessemer Venture Partners and its affiliates have reduced their beneficial ownership in Velo3D, Inc. below the 5% threshold. While a factual disclosure, a reduction in stake by a significant institutional investor can be perceived negatively by the market, potentially signaling a lack of confidence or a portfolio rebalancing.

Negatives

• The reporting persons, including Bessemer Venture Partners, have reduced their beneficial ownership in Velo3D, Inc. to below 5%, which may be interpreted by the market as a decrease in investor confidence or a strategic portfolio reallocation.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may react negatively to the news of a significant institutional investor reducing their stake, potentially leading to downward pressure on the stock price.

Key Dates

Recommendation

Keywords

Velo3D, Bessemer Venture Partners, Schedule 13D, beneficial ownership, common stock, SEC filing, institutional investor, ownership change