Velocity Acquisition Corp.
VELOW
NASDAQ Capital Market0.00
USD
- -
- -
CIK
0001832371
Return %
Stock
S&P500
1Y
-99.40
26.53
3Y
-99.76
76.60
5Y
-99.76
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Adrian Covey
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 109 Old Branchville Road Ridgefield CT United States of America
- IPO Date
- Apr 15, 2021
- CIK
- 0001832371
- Website
- velocityacq.co
- Similar Companies
- Business
- Velocity Acquisition Corp. (NASDAQ: VELOW) is a blank check company whose principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, with a focus on digital transformation sectors including digital services, digital platforms and related areas primarily in North America. The company conducts no significant operations and generates no revenue pending completion of an initial business combination. Incorporated in 2020 and headquartered in Ridgefield, Connecticut, it raised $230 million in its February 2021 initial public offering through the sale of 23 million units, each comprising one share of Class A common stock and one-third of a warrant. In December 2022, following the termination of a proposed merger with BBQGuys in November 2021 and the inability to identify and complete a suitable business combination within the required timeframe, Velocity Acquisition Corp. announced its intention to dissolve and liquidate. Shareholders approved the redemption of all outstanding Public Shares on December 13, 2022, with redemption occurring at approximately $10.00 per share effective December 20, 2022; warrants expired worthless with no redemption rights. Nasdaq filed a Form 25 to delist the company's securities, and Velocity subsequently filed a Form 15 to terminate registration under the Securities Exchange Act of 1934, marking the cessation of its operations as a special purpose acquisition company. The company's website now serves as a domain parking page.