Dave (DAVE) said late Tuesday that it intends to offer $150 million of convertible senior notes due 2031 to institutional investors.
The company may also grant initial purchasers an option to buy up to an additional $22.5 million of notes, according to a statement.
The company said the proceeds will fund capped calls, repurchase common stock, and support general corporate purposes, including additional opportunistic buybacks.
Shares of the company fell 4.2% in recent trading during after hours.
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