Velocity Financial Completes Initial Public Offering
01.23.20
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Simpson Thacher represented Velocity Financial, Inc. in connection with its initial public offering of common stock, which raised approximately $94 million in gross proceeds. Shares of Velocity Financial are now listed on the New York Stock Exchange under the symbol “VEL.”
Based in Westlake Village, California, Velocity Financial is a vertically integrated real estate finance company that primarily originates and manages investor loans secured by 1-4 unit residential rental and small commercial properties. Velocity Financial originates loans nationwide across an extensive network of independent mortgage brokers it has built and refined over 15 years.
The Simpson Thacher team included Daniel Webb, William Brentani, Kelli Schultz, Andy Roy, Laura Berzins and David Wuchenich (Capital Markets); James Rapp (Public Company Advisory Practice); Tristan Brown and Alyssa Ohanian (Executive Compensation and Employee Benefits); Michael Vernace and Robert Meyer (Credit); and Joseph Tootle (Tax).