Dave Inc. to merge with SPAC in $4 Billion deal
Mid-Wilshire-based banking app developer Dave Inc. said on June 7 that it plans to go public through a merger with a Chicago-based special purpose acquisition company that gives the fintech a $4 billion valuation.
Dave’s merger with VPC Impact Acquisition Holdings III Inc. is expected to close late in the third quarter or sometime in the fourth quarter.
VPC Impact is a special purpose acquisition company, or SPAC, sponsored by private capital manager Victory Park Capital Advisors, which has invested about $6 billion across more than 120 investments since its founding in 2007.
Dave, which is backed by billionaire Mark Cuban, will trade under the ticker symbol DAVE.
To read more, please click on the link below…