PIMCO Amends Stake in Velocity Financial

TL;DR

PIMCO filed an update on their Velocity Financial stake. Details TBD.

AI Summary

Pacific Investment Management Company LLC (PIMCO) has filed an amendment (Amendment No. 3) to its Schedule 13D/A for Velocity Financial, Inc. on July 22, 2024. PIMCO is reporting changes in its beneficial ownership of Velocity Financial's common stock. The filing does not specify the exact percentage change or dollar amounts involved in this amendment.

Why It Matters

This filing indicates a potential shift in a significant institutional investor's holdings in Velocity Financial, which could influence market perception and trading activity.

Risk Assessment

Risk Level: medium — Schedule 13D/A filings often signal significant changes in beneficial ownership by large investors, which can impact stock price and liquidity.

Key Players & Entities

• Pacific Investment Management Company LLC (company) — Filing entity
• Velocity Financial, Inc. (company) — Subject company
• Zephram Yowell (person) — Contact person at PIMCO

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $70 million — r. The Loan Agreement is comprised of a $70 million term loan facility. The maturity date o

Filing Documents

• d856725dsc13da.htm (SC 13D/A) — 39KB
• 0001193125-24-182441.txt ( ) — 40KB

is hereby supplemented by adding the following additional information

Item 6 is hereby supplemented by adding the following additional information: TOBI is a party to the Margin Loan Agreement, dated as of July 18, 2024 (the Loan Agreement), with Société Générale, as administrative agent, and Société Générale, as lender. The Loan Agreement is comprised of a $70 million term loan facility. The maturity date of all loans under the Loan Agreement is July 18, 2026. TOBIs obligations under the Loan Agreement are secured by a first priority lien on 10,963,806 shares of common stock of Velocity Financial, Inc. CUSIP No. 92262D101 Page 4 of 4 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: July 22, 2024 PACIFIC INVESTMENT MANAGEMENT COMPANY LLC By: /s/ Alyssa Creighton Name: Alyssa Creighton Title: Senior Vice President Schedule A of the Schedule 13D is hereby amended in its entirety as follows: Schedule A The name and present principal occupation of each Executive Committee Member and Chief Investment Officer of PIMCO is set forth below. Unless otherwise noted the business address of each person listed below is c/o Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, California 92660. EXECTUVE COMMITTEE MEMBERS AND CHIEF INVESTMENT OFFICERS OF PACIFIC INVESTMENT MANAGEMENT COMPANY LLC Name and Business Address Present Principal Occupation Citizenship Mangala Ananthanarayanan Managing Director Executive Committee, Head of Business Management for Europe, Middle East and Africa & Asia Pacific United States Andrew Balls Managing Director Chief Investment Officer (Global Fixed Income) United States Gregory Hall Managing Director Executive Committee, Head of U.S. Global Wealth Management United States Daniel J. Ivascyn Managing Director Executive Committee, Group Chief Invest