Green Dot to sell non-bank assets to Smith Ventures for $690M, merge bank with CommerceOne

GREEN DOT CORP

Each GDOT share exchanged for $8.11 cash + 0.2215 shares of new bank holding co.; implied value $14.23–$19.18/share.
Smith Ventures to acquire Green Dot's fintech operations for $690M cash; $470M distributed to GDOT shareholders, $155M injected into bank.
CommerceOne to acquire Green Dot Bank; combined bank holding co. will be publicly traded; GDOT shareholders own ~72%, CommerceOne ~28%.
Fintech and combined bank to enter 7-year exclusive issuing-bank agreement.
Transaction expected to close Q2 2026; subject to shareholder and regulatory approvals.

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