Velocity Financial, Inc. (VEL) Prices 7.25M Share IPO at $13/Sh

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Go back to Velocity Financial, Inc. (VEL) Prices 7.25M Share IPO at $13/Sh

Velocity Financial, Inc. Announces Pricing of its Initial Public Offering

January 16, 2020 5:48 PM EST

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Velocity Financial, Inc. (Velocity) today announced the pricing of its initial public offering of 7,250,000 shares of its common stock at $13.00 per share. Shares of Velocitys common stock are expected to begin trading on the New York Stock Exchange on January 17, 2020 under the symbol VEL, and the offering is expected to close on January 22, 2020, subject to customary closing conditions. Velocity has granted the underwriters a 30-day option to purchase up to an additional 1,087,500 shares of its common stock at the initial public offering price less the underwriting discount.

The Company intends to use... More