Velocity Acquisition Corp.

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General Information
Business:

We intend to focus our search on “digital transformation” businesses — i.e., companies enabling corporations to accelerate the full digitization of their businesses — including digital services, digital platforms, and related sectors in North America.

Velocity Acquisition Corp. is the second special-purpose acquisition company (“SPAC”) formed by the principals of &vest, who include Doug Jacob, Michael Lastoria, Garrett Schreiber, Steve Kassin, Sandy Beall and Eugene Remm. &vest is a hybrid investment fund sponsor/creative agency that focuses its operational capabilities and deep networks to structure high-impact transactions across various investment product types. 

In August 2020, the principals of &vest launched its first SPAC franchise: FAST Acquisition Corp (NYSE: FST), a hospitality-focused special purpose acquisition company that consummated its $200 million initial public offering in August 2020 (“FST”). On Feb. 1, 2021, FST entered into an Agreement and Plan of Merger to acquire Fertitta Entertainment, Inc., with the support of $1.2 billion of PIPE capital, in a transaction that values the target at $6.6 billion. 

(Note: Velocity Acquisition priced its SPAC IPO in line with the terms in its prospectus: 20 million units at $10 each to raise $200 million.)
Industry: BLANK CHECKS
Employees: 0
Founded: 2020
Contact Information
Address 109 Old Branchville Road Ridgefield, CT 06877
Phone Number (201) 956-1969
Web Address
View Prospectus: Velocity Acquisition Corp.
Financial Information
Market Cap $250.0mil
Revenues $0 mil (last 12 months)
Net Income $0 mil (last 12 months)
IPO Profile
Symbol VELOU
Exchange NASDAQ
Shares (millions): 20.0
Price range $10.00 - $10.00
Est. $ Volume $200.0 mil
Manager / Joint Managers Citigroup/Canaccord Genuity
CO-Managers
Expected To Trade: 2/23/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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