secwatch.observer — SEC 8-K summary
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Issuer:     Dave Inc./DE (DAVE)
CIK:        0001841408
Form:       8-K
Filed at:   2026-03-06T23:59:59+00:00
Accession:  0001193125-26-094530
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841408/000119312526094530/0001193125-26-094530-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841408/000119312526094530/d55376d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-094530

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