secwatch.observer — SEC 8-K summary
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Issuer:     Velocity Financial, Inc. (VEL)
CIK:        0001692376
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001193125-24-130865
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Velocity Financial enters into ATM equity distribution agreements for up to $50M in common stock
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- Entered separate Equity Distribution Agreements with BTIG, LLC and Virtu Americas LLC for at-the-market offering of common stock.
- Maximum aggregate offering amount is $50M or 4,000,000 shares, reduced by prior sales of 38,880 shares ($512,931).
- Commissions to placement agents not to exceed 2.0% of gross sales price per share.
- Net proceeds expected to be used for general corporate purposes, including loan origination, debt repayment, and working capital.
- Prior agreement with Virtu Americas LLC superseded; agreement with JMP Securities LLC terminated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692376/000119312524130865/0001193125-24-130865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692376/000119312524130865/d766372d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-130865

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