Velocity Financial Signs Deal To Acquire Toorak Capital's Operating Capital, Signs Separate Agreements With Third Party Investment Firm To Acquire Toorak's Current Business Purpose Loans Portfolio Totaling ~$3B
Velocity Financial, Inc. (NYSE: VEL; "Velocity" or the "Company") today announced a definitive agreement to acquire the operating platform of Toorak Capital LLC ("Toorak"), a business-purpose
Velocity Financial is buying Toorak Capital's lending business and tools, which means Velocity is getting bigger and will lend more money to business owners. When a company buys another company's business, watch to see if it helps them make more money or if it costs too much.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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