Velocity Acquisition Corp. announced that In connection with the IPO, on February 22, 2021, Sanjay Chadda, Michael Lastoria, Steve Kassin, Ramin Arani and Carla Hendra (collectively, the “Directors”) were appointed to the board of directors of the Company (the “Board”). The Board has determined that Carla Hendra, Michael Lastoria, Steve Kassin and Ramin Arani are independent directors within the meaning of applicable SEC and Nasdaq rules. Effective February 22, 2021, Mr. Arani, Mr. Lastoria and Mr. Kassin were appointed to the Board’s Audit Committee, with Mr. Arani serving as chair of the Audit Committee. Effective February 22, 2021, Mr. Arani, Mr. Lastoria and Mr. Kassin were appointed to the Board’s Compensation Committee, with Mr. Lastoria serving as chair of the Compensation Committee. Following the appointment of the Directors, the Board is comprised of the following three classes: the term of office of the first class of directors, Class I, consists of Ms. Hendra and Mr. Kassin and will expire at the Company’s first annual meeting of stockholders; the term of office of the second class of directors, Class II, consists of Mr. Arani and Mr. Lastoria and will expire at the Company’s second annual meeting of stockholders; and the term of office of the third class of directors, Class III, consists of Sanjay Chadda and Adrian Covey and will expire at the Company’s third annual meeting of stockholders.