BRIEF-Dave Announces Plans To Become Publicly Traded Company Via Merger With VPC Impact Acquisition Holdings III

Reuters2021-06-07

June 7 (Reuters) - VPC Impact Acquisition Holdings III Inc

* DAVE, A LEADING BANKING APP WITH 10 MILLION CUSTOMERS, ANNOUNCES PLANS TO BECOME PUBLICLY TRADED COMPANY VIA MERGER WITH VPC IMPACT ACQUISITION HOLDINGS III

* VPC IMPACT ACQUISITION HOLDINGS III INC - TRANSACTION ASSIGNS DAVE AN EXPECTED PRO FORMA, FULLY-DILUTED EQUITY VALUE OF APPROXIMATELY $4 BILLION

* VPC IMPACT ACQUISITION HOLDINGS III - INSTITUTIONAL INVESTORS COMMITTED $210 MILLION IN A PIPE LED BY TIGER GLOBAL MANAGEMENT

* VPC IMPACT ACQUISITION HOLDINGS III INC - COMBINED CO TO BE LISTED UNDER TICKER SYMBOL “DAVE"

* VPC IMPACT ACQUISITION HOLDINGS III INC - TRANSACTION IS EXPECTED TO RESULT IN OVER $375 MILLION OF CASH ON COMBINED CO’S BALANCE SHEET

Source text () Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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