KVSA - Barry Sternlicht's JAWS Spitfire SPAC confirms deal for Velo3D

Barry Sternlicht's JAWS Spitfire Acquisition (SPFR) confirmed a deal to take Velo3D public that will value the company at $1.6b.The transaction is expected to provide up to $500m in cash proceeds. The deal includes a PIPE of $155m led by Baron Capital and Hedsophia.The deal is expected to occur in the second half of the year and the combined company will be listed on the NYSE under the ticker symbol "VLD."Bessemer Venture Partners, Khosla Ventures (KVSA), Playground and Piva expected to retain equity holdings in Velo3D.BofA served as exclusive financial advisor to Velo3D. Credit Suisse served as capital markets and financial advisor to JAWS Spitfire and as lead placement agent on the PIPE transaction. Kirkland & Ellis served as legal counsel to JAWS Spitfire.JAWS Spitfire down 3.2% in premarket trading.Recall March 10, Sterlicht SPAC JAWS Spitfire spikes on report to take Velo3D public.

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Barry Sternlicht's JAWS Spitfire SPAC confirms deal for Velo3D