We are investigating Velocity Financial, Inc. (VEL) (“Velocity” or the “Company”) for potential violations of the federal securities laws.
On or about January 17, 2020, Velocity commenced its initial public offering (“IPO”), selling 7,250,000 shares of stock priced at $13.00 per share and raising $94,250,000 in new capital. Since the IPO, Velocity’s stock price has declined significantly, closing as low as $2.47 per share, representing a decline of 81% from the offering price.