Velocity Financial, Inc. (NYSE: VEL), (the "Company," "Velocity," "we" or "our") today announced that it has reached an agreement to issue and sell $45 million of Series A Convertible Preferred Stock and warrants to purchase shares of the Company's common stock to investment funds affiliated with Snow Phipps Group, LLC ("Snow Phipps") and TOBI III SPE I LLC ("TOBI").

Since acquiring Kele in October 2015, Snow Phipps has invested significantly in the Company and completed several add-on acquisitions. During that time, the Company has greatly expanded its digital platform, transformed its relationships with key supply partners and expanded into new geographies and end markets.

Headquartered in Canton, Michigan, ZSi-Foster is a specialty manufacturer and supplier of pipe, hose and conduit support and fastening solutions including clamps, strut and strut fittings, and hydraulic and pneumatic hose fittings, across a diverse range of end markets.

Today, Electric Guard Dog, LLC, the #1 Theft Deterrent Service, announced that Commissioner Bill Bratton, one of the most highly decorated and well-known law enforcement officials in the United States, will join its Board of Directors.

Transaction Further Enhances Leading Position in High-Growth Prime Label Categories

Headquartered in Broken Arrow, Oklahoma, BlackHawk is a leading distributor of cutting tools, abrasives and industrial MRO products used in manufacturing, aerospace & defense, energy, auto aftermarket, construction, general industrial, medical and agriculture applications.