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Eli Manning-Backed Brand Velocity SPAC Pulls Plans for an IPO

Eli Manning 

Eli Manning 

Photographer: Sarah Stier/Getty Images 

Brand Velocity Acquisition Corp., the blank-check firm whose advisers include former National Football League quarterback Eli Manning, dropped its plans for an initial public offering.

The special purpose acquisition company, or SPAC, asked to withdraw its registration for an IPO in a filing Wednesday with the U.S. Securities and Exchange Commission. The company filed last March to raise $200 million to seek a merger target, saying it planned to focus on “a branded consumer-facing businesses in North America.”