Ticker LaunchIPO · VEL
Velocity Financial, Inc.
Formerly Velocity Financial, LLC
Velocity Financial, Inc. (VEL) priced its initial public offering on Jan 17, 2020 at $13.00 per share, below its $14.00–$16.00 range, raising $94.2M, and listed on NYSE. Wells Fargo was lead-left underwriter, joined by Citigroup, Citizens JMP and Raymond James. Simpson Thacher advised the company and Clifford Chance advised the underwriters.
Velocity Financial, Inc. is a vertically integrated real estate finance company founded in 2004. It originates and manages investor loans secured by one-to-four unit residential rental and small commercial properties, sourcing loans nationwide through a network of independent mortgage brokers.
- Status
- IPO
- Ticker
- VEL
- Exchange
- NYSE
- Priced
- Jan 17, 2020
- IPO price
- $13.00
- Price range
- $14.00–$16.00
- Raised
- $94.2M
- First filed
- Oct 18, 2019
- Underwriters
- Wells Fargo, Citigroup, Citizens JMP and Raymond James
- Company counsel
- Simpson Thacher
- Underwriters' counsel
- Clifford Chance
- Sector
- Financials
- Country / state
- CA
More on this listing for subscribers
- Lock-up period and expiry date
- Shares offered, over-allotment and shares outstanding after the offering
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Filings
- Registration statement (S-1) first filed Oct 18, 2019
- Latest amendment Jan 6, 2020
- Final prospectus (424B4) Jan 17, 2020
- All filings on EDGAR CIK 1692376
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