Velocity Acquisition Corp. Announces it Will Redeem its Public Shares and Will Not Consummate an Initial Business Combination

Dec 16, 2022

Velocity Acquisition Corp. (NASDAQ: VELO) (the “Company”) announced today that, because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation (the “Amended Charter”), the Company intends to dissolve and liquidate in accordance with the provisions of the Amended Charter, effective as of the close of business on December 20, 2022, and will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering (the “Public Shares”), at an anticipated per-share redemption price of approximately $10.00.

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