Dave prices $175M 0% convertible notes due 2031; repurchases ~334K shares

Dave Inc./DE

Pricing of $175M (upsized from $150M) 0% Convertible Senior Notes due 2031; initial purchasers option for additional $25M.
Initial conversion price $279.13/share (~32.5% premium over $210.67); capped calls raise effective premium to 100% (cap $421.34).
Net proceeds ~$168M; ~$70.5M to repurchase ~334K shares from note purchasers; ~$15.1M for capped calls.
Notes are senior unsecured, mature April 1, 2031; redeemable after April 2029 if stock ≥130% of conversion price for 20 days.
Expected close March 9, 2026; offered via Rule 144A to qualified institutional buyers.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Dave Inc./DE entered into Purchase Agreement with J.P. Morgan Securities LLC, UBS Securities LLC and Evercore Group L.L.C., as representatives of the several initial purchasers valued at $175 million aggregate principal amount (effective 2026-03-04).

Action: entry
Agreement: notes offering
Counterparty: J.P. Morgan Securities LLC, UBS Securities LLC and Evercore Group L.L.C., as representatives of the several initial purchasers
Value: $175 million aggregate principal amount
Effective: 2026-03-04

Exact text from the filing

On March 4, 2026, Dave Inc. (the “Company” or “Dave”) entered into a purchase agreement (the “Purchase Agreement”) by and among the Company and J.P. Morgan Securities LLC, UBS Securities LLC and Evercore Group L.L.C., as representatives of the several initial purchasers named therein (collectively, the “Initial Purchasers”), in connection with the Company’s offering of $175 million aggregate principal amount of 0% Convertible Senior Notes due 2031 (the “Notes”)

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336 material agreements filed in the last 30 days. Browse all material agreements →

Dave Inc./DE filing history →

Source: SEC EDGAR

accession 0001193125-26-094530

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