VELO SEC filings, in plain English
Everything Velocity Acquisition Corp. has filed with the SEC that we hold — 40 filings, newest first, 1 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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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.
- What changed vs 2021-08-13trust $230.0M → $230.0M +0%going concern APPEAREDshares 20.7M → 23.0M +11%
trust account, going-concern doubt, redeemable shares3 moved
- Trust account
- $230.0M$230.0M
- Going-concern doubt
- not statedstated
- Redeemable shares
- 20.7M23.0M
SpacBrain reads this as $3,303 was added to the trust between the two filings.
The clause …“Prepaid expenses 483,394 - Total current assets 951,325 55,968 Investments held in Trust Account 230,022,926 - Deferred offering costs associated with Initial Public Offering - 171,193 Total Assets $ 230,974,251 $ 227,161”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“acceptable terms, if at all. In connection with the Company’s assessment of going concern considerations in accordance with FASB Accounting Standards Update (“ASU”) 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to”…
SpacBrain reads this as 2,315,308 more shares carry a redemption right.
The clause “205,618 Commitments and Contingencies Class A common stock, $ 0.0001 par value; 23,000,000 and 0 shares subject to possible redemption at $ 10.00 per share as of September 30, 2021 and December 31, 2020, respectively 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 2021-05-24trust $230.0M → $230.0M +0%shares 20.1M → 20.7M +3%
trust account, redeemable shares2 moved
- Trust account
- $230.0M$230.0M
- Redeemable shares
- 20.1M20.7M
SpacBrain reads this as $4,774 was added to the trust between the two filings.
The clause “68 Prepaid expenses 608,524 - Total current assets 1,233,891 55,968 Investments held in Trust Account 230,019,623 - Deferred offering costs associated with a proposed public offering - 171,193 Total Assets $ 231,253,514 $ 227,161”…
SpacBrain reads this as 582,464 more shares carry a redemption right.
The clause “205,618 Commitments and Contingencies Class A common stock, $ 0.0001 par value; 20,684,692 shares subject to possible redemption at $ 10.00 per share as of June 30, 2021 206,846,920 - Stockholders’ Equity: Preferred stock, $ 0.0001 par”…
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.
minimum cash conditionnothing moved · 1 with no prior record of ours
- Minimum cash condition
- not previously extracted$150.0M
SpacBrain reads this as the min-cash condition binds at $150,000,000.
The clause …“stockholders of Velocity, (ii) Velocity having an aggregate cash amount of at least $150,000,000 available at Closing from Velocity’s trust account (the “Minimum Cash Condition”) (which may be waived by BBQ), and (iii) the expiration”…
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.
minimum cash conditionnothing moved · 1 with no prior record of ours
- Minimum cash condition
- $150.0M · unchanged
The clause …“stockholders of Velocity, (ii) Velocity having an aggregate cash amount of at least $150,000,000 available at Closing from Velocity’s trust account (the “Minimum Cash Condition”) (which may be waived by BBQ), and (iii) the expiration”…
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.
In plain English
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.
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.
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.