Velocity Acquisition Corp.
VELOU
NASDAQ Capital Market9.99
USD
-0.07
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Velocity Acquisition Corp.
VELOU
(NASDAQ Capital Market)
Recent
price
9.99
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Velocity Acquisition Corp. (VELOU) operates as a blank check company, or special purpose acquisition company (SPAC), with no significant independent operations; it focuses on pursuing mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations, primarily targeting digital transformation businesses including digital services, digital platforms, and related sectors in North America. Incorporated in 2020 and headquartered in Ridgefield, Connecticut, the company raised $230 million in its February 2021 initial public offering of 23 million units at $10 each, with units comprising one Class A common share and one-third of a redeemable warrant; separate trading of shares (VELO) and warrants (VELOW) commenced in April 2021. In December 2022, following shareholder approval on December 13 and the failure to complete an initial business combination within its 24-month timeframe, Velocity announced the redemption of all outstanding public Class A shares at approximately $10 per share, effective close of business on December 20, 2022, with full liquidation thereafter; warrants expired worthless, public shares were cancelled, and trust proceeds were disbursed pro rata to record holders via the transfer agent. The ticker VELOU is no longer active, reflecting the company's dissolution without any merger, acquisition, or strategic alliance materializing.
Velocity Acquisition (OTCMKTS:VELOU) Shares Down 0.6% – Here’s Why
Velocity Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering