VELOCITY ACQUISITION CORP. : Entry into a Material Definitive Agreement, Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Submission of Matters to a Vote of Security Holders, Other Events, Financial Statements and Exhibits (form 8-K)

Item 1.01. Entry into a Material Definitive Agreement.

On December 14, 2022, Velocity Acquisition Corp. (the "Company") entered into an amendment (the "Trust Agreement Amendment") to the Investment Management Trust Agreement, dated February 22, 2021 (the "Trust Agreement"), by and between the Company and Continental Stock Transfer & Trust Company, a New York corporation, as trustee ("Continental") to change the date on which Continental must commence liquidation of the trust account established in connection with the Company's initial public offering from February 25, 2023 (the "Original Termination Date") to such other date as shall be determined by the board of directors of the Company (the "Board") and publicly announced by the Company, provided that such other date shall be no sooner than the date of the effectiveness of the amendment to the Certificate of Incorporation pursuant to the General Corporation Law of the State of Delaware and no later than December 30, 2022 (such date, the "Early Termination Date"). The foregoing description of the Trust Agreement Amendment is qualified in its entirety by the full text of the Trust Agreement Amendment, which is filed as Exhibit 3.1 hereto and incorporated herein by reference

Item 5.03 Amendments to Articles of Incorporation or Bylaws.

On December 14, 2022, the Company filed with the Secretary of State of the State of Delaware an amendment (the "Early Termination Amendment") to the Company's amended and restated certificate of incorporation to change the date by which the Company must consummate a Business Combination from the Original Termination Date to the Early Termination Date. The Company's stockholders approved the Early Termination Amendment at a special meeting of stockholders of the Company (the "Stockholder Meeting") on December 13, 2022. The foregoing description of the Early Termination Amendment is qualified in its entirety by the full text of the Early Termination Amendment, which is filed as Exhibit 3.2 hereto and incorporated herein by reference.

Item 5.07. Submission of Matters to a Vote of Security Holders.

On December 13, 2022, at the Special Meeting, a total of 22,268,157 (or 77.454%) of the Company's issued and outstanding shares of Class A common stock and Class B common stock held of record as of November 17, 2022, the record date for the Special Meeting, were present either in person or by proxy, which constituted a quorum. The Company's stockholders voted on the following proposals at the Special Meeting, each of which were approved. The final vote tabulation for each proposal is set forth below.

Proposal 1. To approve and adopt the Early Termination Proposal.

   For       Against       Abstained
22,209,770      9,285         49,102

Proposal 2. To approve and adopt the Early Termination Trust Amendment Proposal.

   For       Against       Abstained
22,209,519      9,284         49,354

Proposal 3. To approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of the Early Termination Proposal or the Early Termination Trust Amendment Proposal.

22,155,103     63,962       49,092

Although this proposal would have received sufficient votes to be approved, no motion to adjourn was made because the adjournment of the Special Meeting was determined not to be necessary or appropriate.

In connection with the Special Meeting, stockholders holding 22,105,745 Public Shares properly exercised their right to redeem their shares (and did not withdraw their redemption) for cash at a redemption price of approximately $10.09 per share, for an aggregate redemption amount of approximately $223,065,069.20. Following such redemptions, approximately $8,942,550 was left in trust and 894,255 Public Shares remain outstanding.

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Item 8.01 Other Events.

On December 16, 2022, the Company issued a press release announcing that because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation (the "Amended Charter"), the Company intends to dissolve and liquidate in accordance with the provisions of the Amended Charter and will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering (the "Public Shares"), at an anticipated per-share redemption price of approximately $10.00.

As of the close of business on December 20, 2022, the Public Shares will be deemed cancelled and will represent only the right to receive the redemption amount.

In order to provide for the disbursement of funds from the trust account, the Company will instruct the trustee of the trust account to take all necessary actions to liquidate the securities held in the trust account. The proceeds of the trust account will be held in a non-interest bearing account while awaiting disbursement to the holders of the Public Shares. Record holders will receive their pro rata portion of the proceeds of the trust account by delivering their Public Shares to Continental Stock Transfer & Trust Company, the Company's transfer agent. Beneficial owners of Public Shares held in "street name," however, will not need to take any action in order to receive the redemption amount. The redemption of the Public Shares is expected to be completed within ten business days after December 20, 2022.

The Company's sponsor, officers and directors have agreed to waive their redemption rights with respect to their outstanding Class B common stock issued prior to the Company's initial public offering. There will be no redemption rights or liquidating distributions with respect to the Company's warrants, which will expire worthless.

The Company expects that The Nasdaq Stock Market LLC will file a Form 25 with the United States Securities and Exchange Commission (the "Commission") to delist the Company's securities. The Company thereafter expects to file a Form 15 with the Commission to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended. The Company anticipates that the Public Shares will cease trading as of the close of business on December 20, 2022.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits



Exhibit No.   Description

3.1             First Amendment to the Investment Management Trust Agreement, dated
              December 14, 2022, by and between Velocity Acquisition Corp. and
              Continental Stock Transfer & Trust Company.
3.2             Amendment to Amended and Restated Certificate of Incorporation of
              Velocity Acquisition Corp.
99.1            Press Release, dated December 16, 2022.
104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document)




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