SPAC Velocity Acquisition down on terminated merger with BBQ

Velo3D

10/11/2021 15:23

** Blank-check co Velocity Acquisition Corp's  VELO.O 
shares dip nearly 1% to $9.87
    ** VELO and BBQ Holding mutually agree to terminate their
$839 mln merger, companies say  urn:newsml:reuters.com:*:nGNX7JFjqN
    ** The decision was taken due to current supply chain
concerns that are affecting the results of BBQ, and the timing
of closing the deal - statement
    ** BBQ, backed by NFL veterans Eli Manning and Peyton
Manning, is an online retailer of grills and other outdoor
accessories
    ** VELO went public in a $230 mln IPO in February; SPACs
typically have two years from their listing date to find a
company to take public

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))