Velocity Acquisition Corp.
VELO · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. There is no deadline left to miss.
Cash at settlement
The last figure filed while this was still a SPAC.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from FAST Acquisition Corp. / FAST Acquisition Corp. II / Velocity Acquisition Corp. (Arani Ramin), listed on Nasdaq in February 2021.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 24 February 2021
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 109 OLD BRANCHVILLE RD, RIDGEFIELD, CT, 06877
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Schreiber Garrett · Kassin Steve (Director) · Chadda Sanjay (Director)
- Listed securities
- VELO common
As last filed, 16 December 2022. That was the account's last filed value before it was settled — the company does not hold it now.
source: 8-K acc 0001213900-22-080516
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
- $10.00 a share is the last cash figure filed while this was still a SPAC. It is a record of what the account held, not money anyone can ask for now.
What has happened, and what is coming
1 dated milestoneEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 24 February 2021IPOpassed
IPO size not on file
The score
deterministic, from filed fieldsVELO is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 295 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Velocity Acquisition Corp. was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker VELO. The company priced its initial public offering on February 24, 2021, as reflected in a 424B prospectus filed with the SEC. On December 16, 2022, the company filed an 8-K announcing the redemption of all outstanding public shares at a per-share price of approximately $10.00, with the redemption effective as of the close of business on December 20, 2022. The filing established that Velocity Acquisition Corp. liquidated and returned the trust cash to shareholders.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
Completing the redemption before December 30, 2022 keeps it outside the 1% excise tax window opening January 1, 2023, preserving roughly ten cents a share. At approximately $10.07 the payout is close to par, matching VELO's filed trust value of around $10. The undertaking that trust funds will not be used to buy Public Shares, and that any so purchased waive redemption, protects the per-share amount for everyone else.
Both warrant redemptions - the $18.00 and the $10.00 - are defined by reference to the anti-dilution adjustments rather than as numbers, so a term table storing either as a constant is storing a starting value. Extension beyond 24 months runs through a charter amendment approved by 65% of the common stock, and amending the warrant agreement is a separate vote of the warrant holders: the deadline and the warrant terms move on different votes and can diverge.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
What changed: Velocity Acquisition Corp. called a special meeting for December 13, 2022 at 9:30 a.m. Eastern time on an Early Termination Proposal changing the deadline from February 25, 2023 to a board-determined date, so the Company can wind up and redeem all Public Shares no later than December 30, 2022. On November 18, 2022 the redemption price per share was approximately $10.07, expected to be about the same two business days before the meeting. Why it matters: Completing the redemption before December 30, 2022 keeps it outside the 1% excise tax window opening January 1, 2023, preserving roughly ten cents a share. At approximately $10.07 the payout is close to par, matching VELO's filed trust value of around $10. The undertaking that trust funds will not be used to buy Public Shares, and that any so purchased waive redemption, protects the per-share amount for everyone else.
- What changed vs 2022-08-10trust $230.3M → $231.1M +0%
trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $230.3M$231.1M
- Combination deadline
- 2023-02-25not matched in this filing
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 23.0M · unchanged
SpacBrain reads this as $826,028 was added to the trust between the two filings.
The clause …“expenses 169,189 354,881 Total current assets 532,508 1,543,763 Investments held in Trust Account 231,127,242 230,026,133 Total Assets $ 231,659,750 $ 231,569,896 Liabilities, Class A Common Stock Subject to Possible Redemption and”…
The clause …“the Business Combination. In connection with the Company’s assessment of going concern considerations in accordance with FASB’s ASC Topic 205-40, “Presentation of Financial Statements - Going Concern,” management has determined”…
The clause “950,581 Commitments and Contingencies Class A common stock, $ 0.0001 par value; 23,000,000 shares subject to possible redemption at $ 10.02 and $ 10.00 per share redemption value as of September 30, 2022 and December 31, 2021,”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2022-05-13trust $230.0M → $230.3M +0%
trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $230.0M$230.3M
- Combination deadline
- 2023-02-25 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 23.0M · unchanged
SpacBrain reads this as $275,081 was added to the trust between the two filings.
The clause …“expenses 261,626 354,881 Total current assets 569,636 1,543,763 Investments held in Trust Account 230,301,214 230,026,133 Total Assets $ 230,870,850 $ 231,569,896 Liabilities, Class A Common Stock Subject to Possible Redemption and”…
The clause “Going Concern,” we have determined that if the Company is unable to complete a Business Combination by February 25, 2023, the liquidity condition, mandatory liquidation and subsequent dissolution raises substantial doubt about our”…
The clause …“Business Combination. However, in connection with management’s assessment of going concern considerations in accordance with FASB’s ASC Topic 205-40, “Presentation of Financial Statements - Going Concern,” the Company has determined”…
The clause “950,581 Commitments and Contingencies Class A common stock, $ 0.0001 par value; 23,000,000 shares subject to possible redemption at $ 10.00 per share redemption value as of June 30, 2022 and December 31, 2021 230,000,000 230,000,000”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2021-11-12trust $230.0M → $230.0M +0%
trust account, combination deadline, going-concern doubt +11 moved · 3 with no prior record of ours
- Trust account
- $230.0M$230.0M
- Combination deadline
- not previously extracted2023-02-25
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 23.0M · unchanged
SpacBrain reads this as $3,207 was added to the trust between the two filings.
The clause …“as of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Investments held in Trust Account $ 230,026,133 $ - $ - $ 230,026,133 Liabilities: Derivative warrant liabilities - Public warrants $ 3,910,000 $ - $ - $ 3,910,000”…
The clause “Going Concern,” we have determined that if the Company is unable to complete a Business Combination by February 25, 2023, the liquidity condition, mandatory liquidation and subsequent dissolution raises substantial doubt about our”…
The clause …“Business Combination. However, in connection with management’s assessment of going concern considerations in accordance with FASB’s ASC Topic 205-40, “Presentation of Financial Statements – Going Concern,” the Company has determined”…
The clause “950,581 Commitments and Contingencies Class A common stock, $ 0.0001 par value; 23,000,000 shares subject to possible redemption at redemption value of $ 10.00 per share as of March 31, 2022 and December 31, 2021 230,000,000 230,000,000”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Deal completion: 1/3 resolved vehicles closed a deal (33%); 2 liquidated, 0 terminated. No measured post-close outcome yet, so completion credit is NOT gated — missing data is never a penalty.
Mixed record · medium confidence
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B4 0001213900-21-011368
Trading & liquidity
Company profile
Directors & officers
- Schreiber Garrett10% owner
- Kassin SteveDirector
- Chadda SanjayDirector
- Arani RaminDirector
- Brien NicolasChief Strategy Officer
- Lastoria MichaelDirector
- Graham JudgeChief Digital Officer
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
6 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Saba Capital Management, L.P.with 1 other reporting person on the same schedule5.0% · SC 13GJun 10, 2022 stale
- CITADEL ADVISORS LLCwith 6 other reporting persons on the same schedule0.1% · SC 13G/AFeb 14, 2023 stale
- GLAZER CAPITAL, LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 13, 2023 stale
- ARISTEIA CAPITAL LLC0.0% · SC 13G/AFeb 10, 2023 stale
- GLENVIEW CAPITAL MANAGEMENT, LLCwith 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 14, 2022 stale
- ADAGE CAPITAL PARTNERS GP, L.L.C.with 2 other reporting persons on the same schedule0.0% · SC 13G/AFeb 10, 2022 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
39 full SEC filing texts archived — searchable, never lost.
- Vault note — VELO (Velocity Acquisition Corp.)
vault-note · /vault/tickers/VELO
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail2 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001213900-21-011368 priced 2021-02-24; common ticker VELO off 8-K 0001213900-22-080516 (2022-12-16); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per 8-K 0001213900-22-080516 (2022-12-16) — announced redemption of all public shares: “…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. As of the close of business on December 20, 2022, the Public Shares will be deemed cancel…”. Trust at settlement $10.00/share, stated in that filing. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "Velocity Sponsor LLC" (SEC CIK 0001846895) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-21-010964.