In preparation for its impending business combination with Dave, VPC Impact Acquisition Holdings III announced that it would withdraw the listing of its Class A common stocks and warrants. The companies, which merged under the name Dave Inc., anticipate the Class A common stock and warrants will commence trading on Nasdaq on or about January 6, 2021, the day after the combination is expected to officially take place.
The planned merger gives the company a USD 4 billion valuation.
Dave announced its intention to merge with Victory Park Capital (VPC) at the beginning of 2021, to join SPAC.
Dave was launched in 2017 with a suite of banking tools like overdraft protection and a gig-economy job board. The company said it now has a userbase of more than 11 million.
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