4//SEC Filing
PACIFIC INVESTMENT MANAGEMENT CO LLC 4
Accession 0000950170-25-036752
CIK 0001692376other
Filed
Mar 9, 8:00 PM ET
Accepted
Mar 10, 9:09 PM ET
Size
13.4 KB
Accession
0000950170-25-036752
Insider Transaction Report
Form 4
TOBI III SPE I LLC
Director10% Owner
Transactions
- Award
Warrant (right to buy)
2025-03-06+1,673,958→ 1,673,958 total→ Common Stock (1,673,958 underlying) - Disposition to Issuer
Warrant (right to buy)
2025-03-06−1,673,958→ 0 total→ Common Stock (1,673,958 underlying)
LVS III Holding LP
Director10% Owner
Transactions
- Disposition to Issuer
Warrant (right to buy)
2025-03-06−1,673,958→ 0 total→ Common Stock (1,673,958 underlying) - Award
Warrant (right to buy)
2025-03-06+1,673,958→ 1,673,958 total→ Common Stock (1,673,958 underlying)
PACIFIC INVESTMENT MANAGEMENT CO LLC
Director10% Owner
Transactions
- Award
Warrant (right to buy)
2025-03-06+1,673,958→ 1,673,958 total→ Common Stock (1,673,958 underlying) - Disposition to Issuer
Warrant (right to buy)
2025-03-06−1,673,958→ 0 total→ Common Stock (1,673,958 underlying)
Footnotes (2)
- [F1]On March 6, 2025, the expiration date of the Warrants was extended from April 7, 2025 to May 7, 2025. The Warrants are exercisable at the warrantholder's option at any time, in whole or in part, through May 7, 2025, at an exercise price of $2.96 per share of Common Stock, with respect to two-thirds of the Warrants (or the right to purchase 1,115,972 shares of Common Stock), and at an exercise price of $4.94 per share of Common Stock, with respect to the other one-third of the Warrants (or the right to purchase 557,986 shares of Common Stock). The exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants are subject to customary antidilution adjustments. The Issuer is not required to effect an exercise of Warrants, if after giving effect to the issuance of Common Stock upon exercise of such Warrants, such warrantholder together with its affiliates would beneficially own 49% or more of the Issuer's outstanding Common Stock.
- [F2]TOBI III SPE I LLC, a Delaware limited liability company ("TOBI"), is the direct holder of the Issuer's securities. TOBI was formed solely for the purpose of investing in the Issuer. LVS III Holding LP, a Delaware limited partnership ("LVS"), is the sole member of TOBI and operates as a pooled investment fund and invests (among other things) in operating companies. PIMCO GP XVII, LLC, a Delaware limited liability company ("PIMCO GP"), is the sole general partner of LVS. Pacific Investment Management Company LLC is the sole managing member of PIMCO GP, retains a pecuniary interest therein, and has the power to make voting and investment decisions regarding the securities of the Issuer held by TOBI. Each Reporting Person disclaims beneficial ownership in the reported securities, except to the extent of its pecuniary interest therein. The signatory below executes this Form 4 on behalf of each Reporting Person as a Managing Director of PIMCO.
Documents
Issuer
Velocity Financial, Inc.
CIK 0001692376
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001163368
Filing Metadata
- Form type
- 4
- Filed
- Mar 9, 8:00 PM ET
- Accepted
- Mar 10, 9:09 PM ET
- Size
- 13.4 KB