VPGTP to acquire Velocity Portfolio Group.

VPGTP, a privately held Delaware corporation, offered to acquire Velocity Portfolio Group, a portfolio management company that purchases unsecured consumer receivables. The cash purchase price is $4.4 per share representing 35% premium. The purpose of the tender offer is for fferor to gain ownership and control over Velocity. If the tender offer is fully subscribed and completed, and the rollover shares are contributed to offeror, offeror would own between 90% and 100% of the total common stock.