Velocity Acquisition Corp. announced that it has entered into an agreement with returning investor, Velocity Sponsor LLC to issue 6,000,000 warrants at a price of $1 per warrant for gross proceeds of $6,000,000 on November 24, 2020. If the underwriter’s over-allotment option is exercised in full, the company may issue 6,600,000 warrants for gross proceeds of $6,600,000. Each warrant is exercisable to purchase one class A ordinary share at a price of $11.50 per share, subject to adjustment. The warrants will not be redeemable as long as they are held by the investor or its permitted transferees. The warrants will not be transferable, assignable or salable until 30 days after the completion of initial business combination. The securities are being issued pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.